THE INDICATOR | Market Sniper 🔥
THE INDICATOR | Market Sniper 🔥
Will the stock market have a bigger crash?
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Will the stock market have a bigger crash & will that impact Bitcoin?
Let’s take a deeper dive into the charts together & talk about it on the 25 minute video below.
Video recap: Current “everything bubble” does have some similarities & differences to the “dot com bubble” & the “great recession” correction.
All 3 have had initial 30%+ corrections
All 3 had a 30%+ relief rally and/or went through a complacency stage
All 3 have retested the 200 week moving average
So far, dot com & great recession both retested the 900 week moving average
Many stocks including major stocks like Amazon, Facebook, & Disney have all retested or have gone below the March 2020 lows.
10 Year Yield rates continue to be bullish on higher time frames & currently trending upward towards the next major target box area
On the chart, The Civilian Unemployment Rate seems to have found bottom & could start to trend upwards as the relative strength continues to also increase
Bitcoin was created after the dot com & great recession corrections & so we don’t know who it’s react. History on the charts so far makes me think it’ll be negatively impacted if we do see a bigger overall stock market correction.
Bitcoin led the way in the November 2021 correction & it looks like Bitcoin led the way on this current correction.
We don’t have magic crystal ball & we don’t know with 100% certainty that it will correct that far. As a swing trader, I’ll be taking it level by level in order to remain as neutral as possible. This idea of a potential bigger stock market correction was talked about several times over the past 1.5+ years but we remained neutral so we could do our best to capitalize on the recent rally.
Hope you have a good rest of your weekend!
~ Jesse
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Disclaimer
The contents of this newsletter are expressed in my opinion only, none of which is financial advice. Always do your own research as this information is intended for educational purposes only.
Any suggestions, comments or questions, please feel free to direct message me on twitter @JesseOlson. Thanks for reading!