Hello from CFT (our video is out!),
Our stock indicators got a little friendly mid-week, which led to Friday’s strong rally. Bitcoin followed the Nasdaq higher as expected. For those of you knowing of Elliott Wave, we were talking about a five green waves up and an a-b-c pullback. It does look like that will lead to higher prices. The thing that could stall possibly is maybe we are looking for an a-b-c here, beginning of the week. Then from there we will continue to work higher. So we are bullish; we did take some profits in the last 48 hours of 18-23% on a few alt positions. Otherwise, we are staying long in our other positions for the time being.
Again, middle of the week indicators stayed friendly, leading to Friday’s strong rally. We look for stocks to continue higher, at least until the middle of the week.
On the Dollar:
we are still looking for a top to be made. We have shown a little longer-term chart. We think the Dollar is going to start trending down.
And Precious Metals:
we have talked about wanting to be long. There was some weakness into Friday, and Friday reversed higher. We think precious metals can still work higher.