Watch $DRAM! Volume surged sharply on Friday. The Elliott Wave count can be read as a potential five waves down, favoring an ABC bounce from here, and RSI is holding the 40 level, which is constructive even as price stays choppy. Taking out Friday's high on a closing basis would be a trigger, pre-market is pointing at that.
This and more in the latest Rotation Report:
https://t.co/5XHvth6yL0
#gold is knocking on the trendline door. Wave 5 lows in, RSI printing a bullish divergence, and price is testing the descending line from wave 2. Reclaim it and the Elliott count opens up. Fail here and the stop under wave 5 gets tested.
Full breakdown in this week's Rotation Report: https://t.co/5XHvth60Vs
$GLD $GOLD
Bitcoin's daily and weekly timeframes are lined up. Both count a five wave decline off the April highs, with the weekly chart showing wave 5 bottoming before the daily reclaiming the 50 EMA at 65K. That's a momentum shift that hasn't happened since May, and it puts $MSTR back on the radar as a leveraged crypto proxy. The stock is basing above $95 after round tripping deep losses since October, and it's faced its share of backlash, but noise aside, price leads the story here.
$BTC $ETH
Full breakdown in this week's Rotation Report: https://t.co/5XHvth6yL0
#bitcoin #strategy #ethereum #microstrategy
$MCHI (China) started the week strong, gave it all back Friday, and looks like a rejection at the 50 EMA worth watching closely as the region gains relative strength. $MCHI reclaiming the 50 EMA on a closing basis, after this week's rejection, is the next tell on whether China's relative strength against $VT keeps building.
This and more in the latest Rotation Report:
https://t.co/5XHvth60Vs
$MCHI (China) started the week strong, gave it all back Friday, and looks like a rejection at the 50 EMA worth watching closely as the region gains relative strength. $MCHI reclaiming the 50 EMA on a closing basis, after this week's rejection, is the next tell on whether China's relative strength against $VT keeps building.
This and more in the latest Rotation Report:
https://t.co/5XHvth60Vs
New tool debuts this week: a cash-benchmarked dashboard across asset classes.
12 of 19 asset lines score Sell against cash. Only agriculture, crypto, gold, crude, and the broad commodity basket hold above neutral.
More of this in the latest report:
https://t.co/5XHvth60Vs
$BTC $ETH $BCI $GLD $SLV $USO $DBA $DBB $BCI $DIA $QQQ $IWM $SPY $TLT $AGG $VT $VTI $VXUS $EEM
Impressive move from $XLK today. Gapped down 2.63%, fell as much as 3.48% at the lows, then clawed back to positive. Keen to see how it closes.
That defense came right at the 170-172 support zone and a big RSI level tech has respected all year. Worth watching if this holds or if it's just a bounce before the real test.
US Dollar down on the day, testing the 100.25-$100.50 breakout zone it broke through last month.
Healthy pullback or failed breakout, the retest tells us which. Meanwhile the dollar vs bonds and vs gold are still pointing up.
#USD $TLT $GOLD $VT
$SNDK $1,500 zone is the whole ballgame right now.
Bull case: descending triangle, holds support, continues the uptrend.
Bear case: head-and-shoulders, breaks down, targets the 200 MA's.
Same chart, two very different outcomes.
$BTC also showing strength today as it tries to overcome the 50 MA's. Looking to if the strength in the crypto complex continues.
#bitcoin#ethereum $ETH
Look at $ETH taking out it previous high. Relative strength against $BTC curling up.
Longer timeframe on crypto are looking constructive for a bounce. Talked about this in my latest report
https://t.co/5uV5LLI6ZT
$SOL $BNB
Look at $ETH taking out it previous high. Relative strength against $BTC curling up.
Longer timeframe on crypto are looking constructive for a bounce. Talked about this in my latest report
https://t.co/5uV5LLI6ZT
$SOL $BNB