Remember that narratives will be constructed every day in financial media based on emotions. The problem with this strategy is that they have already happened! It has already shown up on the chart. So today, we are going to look at one of the most important intermarket relationships. That is Consumer Discretionary vs Consumer Staples, or XLY/XLP. Let’s hop onto...
This is always a fun way to view the markets. Today we are going to look at a risk on barometer that may be unknown to most. When Finland is breaking out, we tend to take notice. This is a good indication that money is flowing to risk on assets. If country indexes had personalities, Finland would be on a motorcycle pole vaulting with a hockey stick! All jokes...
So now that BTC is bullish, we have to think into the future and look at the scanarios where we would be getting bearish on BTC. This is a process that any technician should do. You have to ride the trend, but you also have to think about when to get off. Some people use price targets for this, I like to use various intermarket relationships and some indicators....
When we look at the headlines, we have to realize that these are just trying to grab our attention and take away from what we should be really paying attention to. Breakouts! Instead of just looking at the index or tuning into financial media for the latest narrative, we should be looking for things to buy. Today we will look at FSLY. Let’s hop on the chart. This...
We have been watching BTC as of late and the chart has met all of our bullish criteria. Accumulation and “buying the dip” was the right move for this asset. The excitement continues! Let’s hop onto the chart. So here we can see that we have broken an downward sloping trend line that has been in play for months now. When something like this breaks, we tend to take...
Regional banks have been an absolute dog as of late. They lag almost everything, other than energy. This sector has shown some strength since the “Tech Wreck”. So why do we focus on this group? Well it is part of a larger story…. interest rates. Let’s hop on the chart. So here we have the charts of KRE. We have seen a downward sloping trendline that was intact...
When looking at equities, there are always clues in the intermarket world. Today we will look at small caps breaking out. Let’s hop into the chart! The first thing I notice here is the overhead supply that we have been struggling to break through. It now looks as though we have broken through. Now we just have to see if it is a fake out or a breakout. If we can...
I am seeing some important retests right now that may tell us what the next moves are. On the %SMA oscillator, we want to see if this line will be defended or if it will fail at this point. We are seeing lower highs and higher lows on all charts so there is no real winner in the trend. If we see either a higher high or a lower low, that is the direction that we...
With cash sitting on the sideline, I am looking at entering the market again. I am seeing a lot of the things I need to see to get back into the market. First let’s look at the chart of BTC itself: So here we have BTC. We are seeing the %SMA Oscillator breaking through the sloping resistance. This is a good sign that the price will follow. Keep in mind we would...
Something weird happened today to TOTAL and TOTAL2. There was no meaningful jumps in the market and TOTAL2 had a 7% up swing. What caused this? It wasn't any of the large cap coins. Curious if anyone has an idea.
DEFI has been a huge part of the crypto market as of late. So it is important to keep an eye on the index for this group. Today we will be looking at the DEFI ticker and see what we can find out. Let’s hop onto the chart! So since the market topped, we have watched the DEFI downtrend take place. There are some signs of a reversal here, but we need to see a...
Here is something that everyone in crypto needs to watch more closely. The USDT dominance chart is a great way to map out how invested people are at any given moment. In the last month, we have seen participants move to cash, but are we on the cusp on a trend reversal? The charts are giving clues of that right now. Let’s hop onto the chart: The first thing that...
This 3 day chart shows that we have had failures at all of the trend lines at at the %SMA oscillator. This tells me there is either more downside, or we need some sideways action to retest the trend lines and break them. We will be watching these closely. There is still a day left on these candles, but these are all pointing bearish.
Today we will examine the intermarket analysis that we did 2 days ago and update the tally for bullish, bearish, and neutral indicators. First we will cover TOTAL, TOTAL2, BTC, and ETH. Lets have a look! Here we have an overall view of the market and a lot of neutral indicators. Anything labelled retest still needs to happen. Once the retest occurs, we will be...
Today we look again at the USDT.D. This chart always has clues for where the money is going. Right now we are seeing all time highs in USDT.D! That is an environment where cryptos are trending downward. Let’s have a look: So now the question remains, when do we go long? Well the 3D chart is a decent indicator of bounces. Right now we are overbought on the MACD...
Bitcoin is measured in dollars. So every chart that you see is bitcoin gaining or losing against the US dollar. At the start of bull markets, commodities start to break out in the weakest currencies. Then it starts to break out in the intermediates currencies, then finally it breaks out in USD. So let’s have a look at BTC compared to some of the weakest currencies...
There are times in markets when you have to take a 30000 foot view of the market. We will be revisiting the crypto market and analyzing what might happen. Let’s have a look at the TOTAL: So here we have the total market cap on the 3 day chart with a 21 SMA. On the bottom, we have the % above/below SMA oscillator on the same period. They look the same right? Well...
Here we have the failure to break the RSI support. So we can say that is bearish for BTC in the short term. We will likely see a retest of the downward sloping resistance line. If we break this, we will see new lows in the price of BTC. If we find support here, we will have made a higher low and will look to break the RSI support line again. Happy Trading!