Good morning from CFT (video is out!)
Last week we were looking for a “B” wave to top out, and we did talk about the stock market may be bouncing, so we did catch some rally last week in Bitcoin with our SPOT and FUTURES positions, and Bitcoin did work all its way back to near the highs. We still think we are trying to roll over for a correction, but maybe stab a little higher before that happens. But we still believe we are in correction mode.
Again we had mentioned at the lows Thursday and Friday that we could bounce, and actually, we went to new highs on the SPY and Dow, and the Nasdaq has just recovered some of its recent quick losses. But we still think stocks are in correction mode as well.
we talked about 92.50, which was an upside objective, and we did reach that exact and had a pretty good pullback last few days, with a bounce today. We still think the Dollar can work a little bit higher.
once again, still short and looking still for possibly lower before we cover our shorts.
Thank You, Have a good weekend!