Market Thoughts - 12/12/2021
Market Thoughts - 12/12/2021
Hello Anons,
I wanted to shoot you a little update on some market trends that caught my eye. I will go over some key tickers in the stock and crypto markets. Keep in mind these are subject to change every day. The financial markets are very over reactive. Any slight news can destroy the thoughts here.
US Stock Market
Lets start out with the US Stock Market.
SPY had a bullish close on Friday. On the daily, we had a hammer candle close which is pretty bullish. As you can see we are at a key level of resistance which we’ve bounced multiple times. AAPL was one of the key pushers for SPY last week- with an absolutely insane push to ATHs.
As of right now on Sunday evening, SPY futures are green by almost 1%, while VIX is down -7%. Let’s watch what happens here as we approach the daily resistance above.
Crypto Market
Crypto has had a very volatile few weeks. Started about a month ago with the rejected spot ETF’s in America, into the Black Friday event, then the next black friday liquidation washout.
Here is what I am watching from the technical analysis standpoint on Bitcoin. You can see this solid uptrend starting at the March 2020 COVID lows, then resting in the Spring of 2021, has now been broken. We found a bottom near 42K on the weekly and quickly bounced. Now are we in a spot of waiting, watching, and accumulating. What happens when we come up to test this previous trend line? Do we reject or blow through it? There is also a key level of resistance/support at 59k, but let’s focus on the trend line before we get that kind of hope. As always with chart- chart the key levels and then react. Do not try to predict. You will be a much better trader with this mindset.
With about an hour and a half until the daily and weekly candle close, Bitcoin might end up closing the weekly green.
Latest News
The U.S. went on a borrowing binge last year and the hangover could make it harder for the Federal Reserve to fight inflation without crashing the economy. Read More
US Inflation at 39-Year High Fails to Buoy Bitcoin. Read More
Big investors looking beyond bitcoin may take their first baby steps into ether, which has so far outperformed its layer 1 alternatives. But for how long? Read More
U.S. Consumer Prices Climb at Fastest Annual Rate Since 1982. Read More
Referrals
DeFi Cultivator - This set of videos will go through a few core concepts along with demos of swaps, liquidity pools, farms, and more.
How You Can Reach Financial Independence In 5-10 Years! - Route2Fi is going to show you the steps he is taking to reach financial independence, and now he is going to teach you to do the same!
You are receiving this letter because you signed up or purchased a course through me. Feel free to unsubscribe if you do not find this valuable.
Nothing in this email is intended to be financial advice. Always do your own research.