To Investors,
Looks like the markets are selling in April vs the age old saying of sell in May and go away. Also, I was asked on what ethereal might be doing so we will add that a one of our five charts. Lets get into it.
Dow30
The Dow was as low as 34,277 which would have put the it below the 34,640 level we were eyeing as possible support but now that is has closed below it and with moneyflow not yet turning back up it looks like bears still have possession. 34188 is next possible support. S&P 500
The SPX came down to 4450 exactly and bounced. While sellers could be losing steam next support looks to be 4437 and then 4375. Up and until we see money start coming in, rallies are for selling. Gold
Failure to get back above 1932 and with continued money coming out if gold I remain bearish. Bitcoin
Selling gets more and more real it Bitcoin. We did briefly dip below 42,920 and while we are above it at the time of writing this, it would not surprise me if we fall through it like a knife through butter. Next strong support is at 41,285. Ethereum
Ethereum looks much the same of Bitcoin as we have sellers coming out. With Ethereum being more volatile than Bitcoin it is what we call a traders delight. If we lose 3050 area than we have 2940-2900 area as a solid buying opportunity. To your fortune,
AK