Week 4 didn't work out as expected, which is highlights the importance of "reacting" vs. "predicting" the market. Week 5 looks like a 'sit tight' place. I wouldn't be surprised with anything. If I was going to put 'hopium' into anything, it would be a sharp rise to the weekly 21DEMA to allow for some repositioning. A big washout wouldn't surprise me though. If...
Here is my Week 4 Crypto Strategy, now with a few tokens on watch.
Holding:
BTCUSD for a dead cat bounce to the 200dEMA
LTCUSD for the same
MANA for a possible breakout of the wedge
On Watch:
ADAUSD for a potential H&S
MATIC for a breakout
Harmony for a breakout
CELR for its resilience at this level.
SAND I might cheat in a bit here at this...
This week's plan is to lighten up all my crypto holdings and prepare (too late) for crypto winter. My only bullish ideas are MATIC and Harmony, and I think ONE will pull back first.
MATIC
Harmony
I use sector ETFs in my IRA account. Currently, I hold XOP and XLF, and I wish I held XLE. I will try to buy XLP (Which shouldn't be a problem) next week.
For Week 4, I'm expecting XLF to firm up and XOP to come in a bit. XLE would be kind to give me an entry point at prior resistance/ support, but we'll see. Oil looks darn strong at the moment.
XLF...
For Week 4 I am expecting positive movement in the S&P 500, with not all sectors participating. I expect tech to have a dead cat bounce, maybe early in the week, especially when viewed on the equal weight QQQ. I believe it will be a bull trap before moving lower.
The most bullish market, and that is used loosely, is the IWM. It looks like it could be forming...
Expect a continuation down to the uptrend line. Then chances are we see a rebound to previous resistance, maybe near ATHs. know your levels and be paitent. Wait for confirmation.
SP:SPX
