To Investors,
The coming posts are going to be short and sweet, to the point. There is no sense in wasting anytime as the key take away is where to put dollars to work or move dollars. Similar to the last post we will go over the Dow, S&P 500, Gold and Bitcoin.
Dow 30
The Dow seems to be on pause if you will. We have yet to get above the 35,200 level again and if the 0.618 Fib support holds at 34,468 we could be in for a continuation higher as money moving out of the Dow has slowed. Neutral to Bearish (for now) as we may be in for a small relief rally. S&P 500
Looking more neutral than anything as price is just sort if sitting. The good news for the bulls is that money is still moving in and price has to made a lower low. Neutral to bullish. Gold
Case could be made that the 1890 level for Gold was a double bottom pattern but in my humble opinion I would like to see stronger money flowing into Gold before going long. Cautiously bullish. Bitcoin
While I am still very bullish on Bitcoin over the log term I would not be surprised if we get a dip before heading higher. A test down to the 45k level could be on the horizon before going back up. As the chart indicate on the larger timeframes dips are likely and they are a buying opportunity as spring turns to summer. To your fortune,
AK