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Channel knows all. Shakes out longs and shorts. You have no power over the channel. Lines means nothing. Technical analysis means nothing. Seasonality means nothing. Channel knows all and is all. For I am channel.

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Yeah, these charts are turning ugly for Bitcoin, which is down more than 10% from its high. There will be a bounce somewhere on the way down. Use it as a chance to get out.

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This is the SPXEW (S&P 500 equal weight) vs the SPX (S&P500). Just some food for thought. Not bullish or bearish but people have pointed this out to me.

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This chart is the NETR (Nasdaq equal weight 100 vs NDX (Nasdaq 100). Not bullish or bearish but something to look at.

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Long term support from the 2020 bottom. For reference.

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Some support and resistance lines on the S&P 500. Important to keep in mind the long term support line from the 2020 bottom.

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This is a follow-up to my previous post showing where I am drawing my original support line with a test.

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The bottom line is from the 2023 low, which may be our ultimate target. There is a very good chance Trump walks back the tariffs because he is like that. Talks tough and then cowers when his ideas are shown to be problematic. If they walk the tariffs back, we likely get a relief rally, but the ultimate direction is down.