I don’t have much on my watchlist for this week. The markets are at a weird crossroads right now, both in Equities and Crypto. I need a clear outside of the lull we are currently in. In my #trends 0012 : Market Bubble issue on Apr 1. I talked about the S&P indicator, where I said:
I’m not the expert, but personally, I’d probably start exiting the market at around $4200.
That’s almost exactly close to where we hit and the market pulled back since after hitting the high of $4,194.17. I don’t have a crystal ball, but that number just made more sense to me because we struggled so long to even break $4,000.
Although I exited some positions, I wasn’t able to exit everything for which I’m still down on. If we break the $4,200 for S&P, that could be the beginning of the melt-up to $4,700 where I’m hoping I can exit all my positions, as I believe that may be the final bull run before we hit a massive correction at some point. As for Crypto, Bitcoin needs to break the $51K mark to continue the bull run, which it seems like it just did as I am writing this. So this bull run could take it to potentially $70K.
As always, this is not financial advice. I use this as a way to journal my thoughts and share with anyone else interested enough to want to read this, as well as for educational purposes only.