Good evening from CFT (our new video is out!),
Bitcoin,
BTC has worked higher, as we expected. We do think the recent rally has given credence to this red wave (C) of the white wave 4 has ended. We’re trading at $42,500 currently. Last week, we mentioned that we thought we could assault the $53K-$54,000, and we think that is happening here.
U.S. stocks,
we talked about a green wave (4) ending. Again, we think that has happened; our indicators are neutral, so we are looking for stocks to continue higher.
Dollar,
We are still looking for a top. Last week’s action looks like a short term upthrust. We think the Dollar has turned lower. Sentiment on the Dollar is extremely bullish, so we look for the Dollar to start trending lower.
Precious Metals,
We think probably while the Dollar is falling, Precious Metals will firm up, but we are on the sidelines.
Thank you!
CFT team.