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Tuesday, April 11, 2023

Trading Into Earnings Season, Bitcoin hits 30k, Buffett Invests In Japan, Silver


Looks like we avoided a recession, and a banking crisis, and the next Fed meeting isn't for 2 months.

What does that mean? Means we're probably going to be off to the races, at some point, or at least certain sectors are....

I have a couple sectors I'm already long, and looking to add to a 3rd; if everything goes according to plan.

Of course defensive sectors, and money markets aren't going to do too well, but I got out of those positions, and put on more risk a while back. That was on the 24th of March to be exact!
Knowing which sectors are bullish, and which ones aren't... is going to be critical, as I also see several sector rotations coming. Remember what I said about certain sectors being run up, which shorting the $VIX, just in order to build massive short positions in the Options market?

If you need mentoring trading in the current environment then Paypal me $99, and then contact me on twitter, and I'll do what I can, over the next month or 2 - before trading volume dries up during the summer.

Earnings in focus: 

Friday earnings kick off with the Big Banks. This seems to be all the market is focused on. 

$VIX continues to be hammered below the magic number (20).

Buffett Invests In Japan 

This is actually old news, and the fake News trying to make it sound bullish. 

$NIKK (Japan) Not seeing much of a trade here, although I'd be selling the upper end of the range...

$SPX futures - The June contracts continue to trade way above the actual index at nearly 4150 

That just happens to be pretty close to the short term target I've been pointing to, on the DCS chart. 

$SPX - continues to trade in a sideways range 


Bitcoin broke out late yesterday evening 

If it continues then 33k is the next big resistance 

I still think all these Alt dollar trades are about to be taken out behind the woodshed, along with any Alt equities trades... like we saw during the covid money printing spree.  

Speaking of which; Silver has continued to run all the way back to the top of the range.... 

$SILVER - weekly chart - ...trades into a down-turned expanding declining triangle aka a down-turned megaphone pattern.  

Reversals in Silver can happen suddenly, but after this kind of momentum, I think it could take a little time to top out. The bulls stop would be the previous high (level) at 24.77 

The pattern on the above chart is eerily similar to the one on the broader market, and the Dow is trading into a similar sub pattern (pattern within a pattern). 

$INDU - 

What does all that mean? Means there's a good chance we see the rug pulled, no sooner than the banksters return from holiday.  

Take Care, 

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