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24052021 US equity Indices ready to make its decision?

May 24, 2021

After consolidating at Q XOP for the past few weeks, which saw unprecedented market volatility in various markets, I think the market is ready to make its decision/move... 

if it hasn't already.

ES-056

Last week saw us consolidate further between Q XOP and RV M COP...

We are seeing a strong open on Monday...

Multi timeframe analysis ( Intraday ) suggests to me that we will likely push on from here ( to the upside ).

Watching DP on Daily.

So far what I am seeing from price action - is confirming my biases - for the past weeks,

i) YES - inflation is here.

ii) YES - There is Risk for Hyper Inflation - however it is still pre-mature for markets to make a decision based on that - on incomplete data. We still need more inflation data, as such I saw the sell-off in equities due to inflation risks - as being 'transitory' even if inflation isn't.

TSLA

iii) TSLA and many Tech Growth stocks were trading against their 200MAs, and as long as they stay above it - than their long term uptrend remains intact.

PS. I think accumulation in TSLA is almost done and we might be poised for a move soon - need to see a clean break above its 200ma.

BTC

iv) Crypto currency were near buying opportunities - however the dip was more pronounced than anticipated, breaking F3 nodes but finding support at F5s...

This is not surprising considering the liquidity situation in cryptocurrencies ( not as liquid compared to more traditional investments - in terms of finding a counter party to your trade when shit hits the fan )

While alot of cryptos have all hit important support nodes ( f5 ), there might still be further downside volatility, as BTC remains still below its 200ma.

So we could yet test primary F5.

 

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