VIX
- VIX is likely completing a small orange ending diagonal (ED), wedge, as some people call it
- Expect a sharp reversal after the ED completes
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I've talked about my new cycle plan quite a bit on Twitter already, discussing how I'm waiting for that RSI higher low (or prices to drop below 55ish) to start DCA-ing again.
It's still early to draw up the exact planning; but I'd estimate it will look something like this. The sell box will shift based on where the market finds its bear market lows; but this'll give you a rough idea of my plans for the next few years.
Should come as no surprise: buying relatively cheap, waiting for a year or two, and slowly offloading the coins at a premium.
Keeping it simple :)
WARNING: Bitcoin is Losing Long-Term Uptrend Channel
This is using the BTC CME chart just because its cleaner, but the channel can be drawn on any BTC chart
Losing such a major long-term channel and uptrend line can be pretty nasty
Per Hurst Cycle Theory, this could be the the breakdown of a VTL that tells us we can start to prepare for a cyclical low to be in
It would still take up to a few months, but it is getting closer and closer
Q&A session
Kindly ask if you have any questions around your portfolio companies
The only buy set up i see is a 30 minute orderblock at the 618 retrace
Take out the lows and 55k to 47,700 would be a target
BTC Update
- This was likely just circle-iii of 5.
Put/Call Ratio
Total CBOE Put/Call Ratio bounced after reaching about 4.5-year low
S&P 500 vs McClellan Indicators
- McClellan Summation Index, the swing trend indicator, and McClellan Oscillator curled down again, forming notable negative divergences wrt SPX
- This is not good for SPX
SPX - 10D Cycle Target
- The next target is about 7,500
- 20D FLD is in that range, so it may try to find support there
- Convincingly below 7500 will likely generate a 20D target in about 7370+/- area
- That will likely confirm the top, although the ultimate confirmation would be below 7333.68
NQ - Elliott Wave Count
- Could my best effort count be correct?
- So far, it looks good.
SOX: Looking at the 1-minute chart, it still needs one more minor high. 😂
The smartest money on Wall Street is trapped.
Prime brokerage leverage just hit 322.7%, a five-year high, with long-short books in the 99th percentile, all crowded into the same tech names and dead short energy.
And with all that firepower, they still lost to the index in May, gaining 3.35% against the market's 4.55%. That is a chase, not a lead, and it is the setup for a violent rotation.
Here is the urgent part...
Protection is cheap and Friday's jobs report drops into a market with no insurance.
The line on S&P is 7,500, that tells you the selling has started.
$ORCL - Looks to have put in a bottom, formed support, breakout and re-test, and then pushing through higher here. Strong earnings and revenue forecasts which are helping with the recovery.
Sold 100%
Oracle Corporation
3 Jun
LONGInvested Capital
5%
Buying Price
191.8$
Selling Price
230.8$
ROI
20.36%
ETH 20W Cycle Target
- ETH is still heading toward it 20W target.
Bitcoin - 20W Cycle Target
- BTC satisfied the 80D target.
- It also generated and satisfied the 20W target shown below, which extends to a new low.
