BTC
Daily we find ourselves range trading here, as we did before continuing the downward momentum for almost 30%…
ETH
Very similar range trading to BTC. Same reaction as BTC last time it broke range, continued the overall trend downward for ~ 30%. Demand levels for BTC and ETH that it’s toying around with can be considered ‘burnt’ and I wouldn’t expect much moves off of them.
SPX
SPX daily closed as a spinning top right into the 20SMA after rejecting the 20EMA. Potential reversal signal if it decides to carry thru tomorrow/Friday.
XLE
Weekly flirted with the trendline here, I entered long for a long term swing.
Daily hit a demand area and reacted, however we’d still want to see a push above the 5/9EMA (blue/purple lines) to see any kind of momentum with this. RSI is extremely oversold on the daily.
FXI
FXI daily finally closing below channel line and also below 5/9EMA. I am short FXI based on a potential false breakout reversal which could carry thru now that we are back in channel. Something to watch over the next few days/next week.
GLD
GLD daily hitting demand area with little to no reaction. Has fallen way out of channel, but RSI showing very oversold. MACD not signaling any kind of wish to cross yet. Still avoiding this for now.
Weekly showing potential to want to touch the 200EMA before making any move back to the upside — weekly is also at a demand level, closed right at it. Something to watch these coming weeks.
