Stocks appear to have made their “weekly swing low” as of this morning. This is simply a condition where a weekly candle closes “higher” than the close of the weekly candle prior, and in this case…..within the usual timing band ( these days between 46 – 53 days ) for the cycle to have completed.
Crypto has also made some pretty serious recovery so…It looks like “buy time” to me.
This has undoubtedly been one of the longest / toughest / unpredictable pullbacks we’ve seen in very long time and rightfully so considering all that’s going on in the world but….the charts generally don’t lie and from a technical standpoint – this is all looking relatively normal to this gorilla.
You may want to consider “inching in here” and not throwing the kitchen sinks at this market in general but that being said – I do believe we go on to make the largest returns in the second half of this year, as the big boys “blow the top” off this thing and hand retail the bag once again at much higher prices. Markets don’t roll over like this. We need something euphoric to really convince the masses it’s time to buy…and you know what that means for us – the time to ultimately sell as the average joe scrapes together his last few bucks and buys at the absolute top.
Crypto wise…..you wanna stick with the top ten as seen at www.coinmarketcap.com, as these are coins with very good “use cases” as opposed to so many of the smaller projects that will likely never go anywhere. Ethereum feels like an absolute steal here considering it’s solid place within the defi ecosystem, and bitcoin ( now serving as digital gold for the next generation ) will likely be worth $1 million dollars a coin in the not so distant future.
Have fun gang….keep yer eyes peeled on Russia / Ukraine as….oil will flop back down to 45 bones once this conflict is resolved.