Stocks
RSP/iwm similar, still finding demand off the mid level on weekly RSI staying w/in upper range for now
SPY - the bounce had a lot more breadth then previous ones - can see that looking at how Stocks above 50d/200d MA had one of its bigger moves up in a while coinciding w/the bounce.
The last few weeks breadth has been broadening across sectors, can also monitor this daily by looking at RSP vs. SPY performance. RSP/SPY moved up since Nov 3rd but relative outperformance still feels a bit weak
RSP/iwm similar, still finding demand off the mid level on weekly RSI staying w/in upper range for now
SPY - the bounce had a lot more breadth then previous ones - can see that looking at how Stocks above 50d/200d MA had one of its bigger moves up in a while coinciding w/the bounce.
The last few weeks breadth has been broadening across sectors, can also monitor this daily by looking at RSP vs. SPY performance. RSP/SPY moved up since Nov 3rd but relative outperformance still feels a bit weak
❤2
To summarize both -
crypto - beat up alts like fartcoin reclaiming interesting levels on rsi on this bounce (Alts that filled the 10/10 wick and bounced > alts that havnt reached it yet) , forming lower highs on majors coinciding with bull divs
stocks - you've seen the index's that are more broad encompassing across sectors reclaiming interesting levels w/their bounce (similar to beat up alts) as some $ has been flowing out of the narrow "AI trade" into other area's. Standard index's (SPY/QQQ) you had better breadth on the bounce than prev bounces
Market feels like it wants to move to the upside, but Fed meeting Dec 10th won't be a non-event and gut says ppl will get jittery the closer we get to that date.
Hard to have to much confidence in either direction atm, but bias is to the upside unless we take out the prev lows set in november
crypto - beat up alts like fartcoin reclaiming interesting levels on rsi on this bounce (Alts that filled the 10/10 wick and bounced > alts that havnt reached it yet) , forming lower highs on majors coinciding with bull divs
stocks - you've seen the index's that are more broad encompassing across sectors reclaiming interesting levels w/their bounce (similar to beat up alts) as some $ has been flowing out of the narrow "AI trade" into other area's. Standard index's (SPY/QQQ) you had better breadth on the bounce than prev bounces
Market feels like it wants to move to the upside, but Fed meeting Dec 10th won't be a non-event and gut says ppl will get jittery the closer we get to that date.
Hard to have to much confidence in either direction atm, but bias is to the upside unless we take out the prev lows set in november
❤5
i don't talk about SPX here bc there is no chart, but objectively it looks like one of the best atm low key lol
❤5👍1
using Mog as an example for "alts" that look interesting - things like this on alts where r/r is very clear - 10/10 wick mostly filled or completely filled, forming htf bull divs on rsi w/the chart that looks like a "boot"
included Fartcoin so u can compare, alot of stuff like feels like they're in the gray shaded are on fartcoin, r/r extremely defined
included Fartcoin so u can compare, alot of stuff like feels like they're in the gray shaded are on fartcoin, r/r extremely defined
BGC Priv Journal
using Mog as an example for "alts" that look interesting - things like this on alts where r/r is very clear - 10/10 wick mostly filled or completely filled, forming htf bull divs on rsi w/the chart that looks like a "boot" included Fartcoin so u can compare…
ICP an example of the best case outcome, but can kind of see the similarities in the set up
BGC Priv Journal
Stocks RSP/iwm similar, still finding demand off the mid level on weekly RSI staying w/in upper range for now SPY - the bounce had a lot more breadth then previous ones - can see that looking at how Stocks above 50d/200d MA had one of its bigger moves up…
example of monitoring - QQQ, SPY red / IWM/RSP/DOW green -> likely rotations underneath the surface out at the open from concentrated names in SPY like mag7/semi's etc into other sectors