Today's Cycle Pattern is a Temporary Bottom pattern. I suspect the markets may attempt to move a bit lower in early trading before attempting to find a new base/support level.
Yesterday's low may prove to be very important depending on what the markets do today. Initially, I thought yesterday's low was the Temporary Bottom pattern (one day early). But, I do believe the markets will continue to be volatile in early trading today and may move downward to retest lows before trying to move higher - setting up the Temporary Bottom pattern.
Gold and Silver will likely continue to melt upward unless there is some big news that disrupts the US Dollar's downward slide. I see Gold trying to rally above $3200 very quickly over the next 15+ days.
Bitcoin is still consolidating and is currently in a short upward price phase (much like the SPY/QQQ). In fact, the SPY/QQQ and Bitcoin are all in an EPP consolidation phase.
So, that means even though we may see a volatile type of price move over the next 15-30+ days, price is ultimately trapped in a consolidated price range and will/should attempt to break downward into the Ultimate Low.
Therefore, if we get a moderate pullback/rally phase over the next 5+ trading days, be aware that the rally upward will end near March 21-24 and turn downward very sharply before the end of March (based on my research).
You have lots of opportunity if this base sets up for a moderate rally in the SPY/QQQ, but play it cautiously as I don't believe we'll see new ATHs anytime soon.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
Yesterday's low may prove to be very important depending on what the markets do today. Initially, I thought yesterday's low was the Temporary Bottom pattern (one day early). But, I do believe the markets will continue to be volatile in early trading today and may move downward to retest lows before trying to move higher - setting up the Temporary Bottom pattern.
Gold and Silver will likely continue to melt upward unless there is some big news that disrupts the US Dollar's downward slide. I see Gold trying to rally above $3200 very quickly over the next 15+ days.
Bitcoin is still consolidating and is currently in a short upward price phase (much like the SPY/QQQ). In fact, the SPY/QQQ and Bitcoin are all in an EPP consolidation phase.
So, that means even though we may see a volatile type of price move over the next 15-30+ days, price is ultimately trapped in a consolidated price range and will/should attempt to break downward into the Ultimate Low.
Therefore, if we get a moderate pullback/rally phase over the next 5+ trading days, be aware that the rally upward will end near March 21-24 and turn downward very sharply before the end of March (based on my research).
You have lots of opportunity if this base sets up for a moderate rally in the SPY/QQQ, but play it cautiously as I don't believe we'll see new ATHs anytime soon.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
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