Week in Review (Feb.23 – Feb.29)
Equities – All equities saw a selloff over the last week in one of the largest point declines weekly in history. The largest DIA daily point decline in history occurred. We hit multiple gaps and made a few successful trades in 200-900% gain. Trades identified last week would have ALL been profitable – DIA, SMH, AAPL, SPY, MSFT. CoV fears accelerated with spread going to over 31 countries.
Crypto – Bitcoin and Gold both saw a selloff as the general market sold off with CoV fears. We luckily exited GBTC and wait for the next entry.
Looking Forward to (March 1 – March 7)
Equities – Market fears will intensify in my opinion. Video analysis shows possibility of DJI at 13K or 18K. Which means we still have 3x the previous weeks decline possibly to go. I fully expect national quarantine based on the video analysis comparing Ebola and H1N1 2009 outbreak.
Crypto –Goal entry is $7700 or lower for Bitcoin. GBTC $8.80 or lower. We are bearish in trend and RSI on the Weekly view, which just started. About 80%+ of the time, bearish weekly dot results in cheaper price following week. Could go lower or reverse after March 7.