Today's pattern suggests the SPY will attempt to create a GAP at the open. It looks like the markets may attempt to move higher as the SPY is already nearly 0.35% higher as I type.
Last week was very exciting as we watched the QQQ and the SPY break into new All-Time Highs.
I suspect the markets will continue a bit of a rally into the early Q2 earnings season where retail traders attempt to prepare for the strong technology/innovation/AI earnings data (like last quarter).
I do believe this rally is due for a pullback. I've highlighted this many times in the past. Typically, price does not go straight up or straight down. There are usually multiple pullbacks in a trend.
So, at this point, the markets are BULLISH, but I still want to warn you to stay somewhat cautious of a pullback in the near future (maybe something news-related).
Gold and Silver should start to move higher over the next 5-10+ days, with gold trying to rally back above $3450. I see Gold in a solid FLAGGING formation that is moving closer to the APEX pattern.
Bitcoin is nearing a make-or-break volatility point. I see BTCUSD breaking downward, but it could break into a very volatile phase where it attempts to rally (with the QQQ through earnings), then collapse later in July. We'll see how things play out.
Remember, tomorrow morning I have a doctor's appointment. So I may or may not get a morning video done. FYI.
Get some today.
Last week was very exciting as we watched the QQQ and the SPY break into new All-Time Highs.
I suspect the markets will continue a bit of a rally into the early Q2 earnings season where retail traders attempt to prepare for the strong technology/innovation/AI earnings data (like last quarter).
I do believe this rally is due for a pullback. I've highlighted this many times in the past. Typically, price does not go straight up or straight down. There are usually multiple pullbacks in a trend.
So, at this point, the markets are BULLISH, but I still want to warn you to stay somewhat cautious of a pullback in the near future (maybe something news-related).
Gold and Silver should start to move higher over the next 5-10+ days, with gold trying to rally back above $3450. I see Gold in a solid FLAGGING formation that is moving closer to the APEX pattern.
Bitcoin is nearing a make-or-break volatility point. I see BTCUSD breaking downward, but it could break into a very volatile phase where it attempts to rally (with the QQQ through earnings), then collapse later in July. We'll see how things play out.
Remember, tomorrow morning I have a doctor's appointment. So I may or may not get a morning video done. FYI.
Get some today.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.