Yay
FED STARTS PRINTING SOON!The FED has to start printing by Dec 3rd 2018 or they will let the country go into deflation....which one? I think not, but we'll see!
S&P PlaytimeS&P has retraced from all-time high back to breakout. Current options position is (slightly) net short but approaching 0 deltas and considering going net long with some shorter dated end of month calls. Also short on UVXY just in case we chop around for a while.
Lots of potentially juicy decisions and policies to look out for right now:
-US-China tradewar updates (200 billion or nah)
-US Federal Interest rate decision end of September (postponement of hikes could indicate fed worry over trade war's negative effect on US economy)
-NAFTA negotiation result eh
BTCUSD Bitcoin Clean Chart - BS Free for those who prefer it.Bitcoin Bitmex Chart Update 26th July
Same copy as last chart but without text all over it.
If you prefer this way please hit the agree button and will change - if you prefer the text (for twitter mostly) please hit the other one.
Feedback and alternative views are appreciated too ; )
Bitcoin was a buy on a break above the 8160 line yesterday (though by time comment went live it had already broken higher, sorry- busy day yesterday all round)
It was also a buy if missed the first break on a return to the 8160 line overnight, with the low being 8163 since then.
But the rally is a little lame so far up 100 or so points..
Can raise the stop to 8240 for now.
It's effectively back in neutral, yet again in the very near term whilst trading within the range forming overnight and today bounded by support at the 8160 line and resistance at 8298-8320.
Has to break above 8320 to return to positive for rally back to 8478-8576 range.
Any break above 8600 at any point on rising volume would be extremely positive and can follow long again from that point
looking for 8863 initially and then once broken above to 9367.
Until then the best we can do is raise the stop as above or close out as close to the 8300 line for 140 points or so profit (if you were around to buy the dip overnight) and be ready to go again on a break above 8320 on rising volume.
Returning to the downside potential from here: has to break below the first support line at 8163-8155 range to trigger a 100 point scalp back to 8053.
The next support lies at 7944. It must hold up here at lowest on any retests for the uptrend to remain in tact from here.
WHY YOU SHOULDNT BE WORRIED ABOUT ANOTHER RECESSION"WHY YOU SHOULDNT BE WORRIED ABOUT ANOTHER
RECESSION, AND WHY YOU SHOULD BE DUMPING
YOUR MONEY INTO THE STOCK MARKET RIGHT NOW"
"INVEST IN AMERICAN INDICIES, SLEEP FOR 20
YEARS, AND WAKE UP RICH"
@YUNGFINANCE
