Things are playing out more or less exactly as I have been anticipating in recent updates.
SPX broke out bullishly to a new all time high:
This is probably the final push from the April low, so after a 1-2 week run, it will probably drop back to retest the breakout.
The reverse head and shoulders pattern I talked about on the Dow is playing out now:
This projects to a 17% gain from the pink neckline, so around 50k price level for the Dow.
Bitcoin has been slicing through every resistance level:
I expect crypto to resume it’s rally over the weekend, with BTC in the 115k area by Monday.
Like I said, the tariff and war fears served the purpose of shaking out the weak hands, ginning up bearish sentiment, and setting the stage for a renewal of bull movements.
Here we go…