The thesis is playing out and I am still predicting a very bullish market fueled on greed, quantitative easing and FOMO which will ultimately lead to a collapse of the dollar and a deflationary bust. Printed money will be fed into the system via PPP and US Policies sucking in the "dumb" money before the smart start scaling out leaving the everyday citizen...
Lining up with an economic inflationary period over the decade. BTC has also broken out of its trading range. Next I'll be looking at the energy sector for a run.
Wedge pattern awaiting breakout for a upswing trade. 3:1 reward:risk ratio. RSI and Stochastic looking good. Will trail stop loss and look at TP at the 1.61 extension depending on volume.
With or without a stimulus I see the SPX reaching another all time high before a long over due bear market which could see the SPX reaching the 1200-1800 area. Allowing a shift back into Value stocks. shifting from tech and healthcare which has dominated the market for the last decade.
Potential Buy Zones for XAUUSD Awaiting a pullback and for the "smart" money to pile in at suppressed prices.
Margin of safety buy price, 8 year Payback price 10cap price
EPS Growth Rate - 17% Equity Growth Rate - 24% Operating Cash Flow GR - 22% Sales Growth Rate - 19% ROIC - +20% Year on year
With global markets looking to further drop Bitcoin is no different as we saw prices plummet with the rest of the world another leg down would ultimately see BTC drop again.
looking for an entry on a great company at a fair price due to the coronavirus outbreak, seeking entry around $16 and will monitor to add to position over the following months.
Rejection at the 0.61% on the 200MA now price has shown rejection of the 0.5 fib creating a higher high.