Week in Review (Jan. 19 – Jan. 25)
Equities – Looking to finally end the uptrend. Most trades this week were losses when coronavirus was confirmed in US. BABA, WW, and DOW all tanked. This outbreak is the catalyst we have been waiting for to correct SPY, QQQ, and DIA. We are still waiting for bearish confirmation on these tickers to enter, but the inverse ETF’s (SPXS) have turned bullish indicating the SPY and others should confirm bearish shortly. Gold and silver turning bullish as a hedge.
Crypto – Bitcoin and other crypto has been unaffected by the announcement of the coronavirus. We are entering Chinese New Year which is 1/25-2/8. There was word the Pres. Xi may push back the dates with the outbreak, but no confirmation yet.
Looking Forward to (Jan. 26 – Feb. 1)
Equities – Most earnings play’s which were bullish are on hold. TWTR and UBER are still valid entries, based on pullback to support. We could get earnings beat and selloff with virus news on other tickers. Best option in my opinion is wait for confirmation on bearish trend after earnings on NVDA, SPCE, TSLA, and AMZN. New bullish trades were found for YANG and TLT. Bearish entry for AAPL with good probability of profit. Video Analysis is available on the website.
Crypto – Buy Zone is $7400 to $6500. We always save some extra capital for $6k if it comes. Coronavirus had little impact through 1/25. On Sunday, 1/26, we see BTC back above $8500. With no break of $9k, my assumption is headed back towards $7k. We will know once we get bearish EMA cross confirmation. Retest of 10WeekMA would be around $7500 (possible reversal point). I will be posting videos as frequent as necessary. Bitcoin volatility requires additional posts.
10mins 2secs, Weekly buybacks for SP500 decreasing. Compare lows with SPX selloffs and they match. Leading indicator of correction. https://www.youtube.com/watch?v=7FPIsv34t7M
7mins 16secs , Larry Kudlow (Director of US Economic Council) says that Negative Interest Rates are ineffectual and are basically QE – which is a contradiction to the Federal Reserve (we are not in QE) . 8mins 50secs – Fed Reserve is basically creating a ponzi scheme with monetary policy.- https://www.youtube.com/watch?v=pKxwa4hvfJU