Our weekly update from CFT (video is out!)
Bitcoin has continued to march higher, but our indicators are overbought, and we are looking for a pullback.
But our ALGO has stayed long and has been able to catch these recent gains!
On U.S. stocks,
we have been talking about a top in the market coming. As of Tuesday, we did give a sell signal as marked on the red bar. If we zoom into that, you can see we did catch the high Tuesday, we gave a sell right here, and we are just slightly below those levels, but we expect the market to continue lower from here and actually reverse today.
Here is the U.S. dollar,
let’s go back to the 4 hours chart that we have been showing. It also has been flopping around, we still think a major low is being made, but it has moved sideways here. But we will look for the dollar to still work higher, possibly a minor new low coming before that happens.
We are still short from the red arrow on precious metals, as shown, and it has had some weakness this week. We still expect a breakdown in the metals here and looking for lower prices.
Have a good weekend, and thank you!
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