Holiday Comments for 2.18.19

SP00s – The US cash markets (regular trading session) are closed today for the President’s Day holiday…

The SP00s (front month futures contract for the underlying SPX index) are essentially the same as when I posted last evening, and I don’t see much of any change today, unless a breakthrough in the China trade negotiations takes place…

The trend remains upward and my SAR swing system remains long from 2745… watching.

 

 

Link to larger chart:  Link

 

 

Bitcoin – Back on 2.9.19, I said to look for a move in BTC up to the ~4000 range…

It’s there now… now is a moment of truth… will it break out higher from here, or is there one more leg downward left?

I’ll take a looksy later tonight.

 

BITCOIN – today BTC hit the upward target I was calling for on 2.9.19…

There are two possible counts at this juncture, Wave-A downward is complete and the IT upward move I’ve been calling for is underway…

The other possibility is that wave-d:c:A is complete, with wave -e:c:A still remaining…

If price moves much higher from this point, it’s most likely the bottom is in, especially since all the DTLs on the momentum indicator line have been broken to the upside…

If price turns down hard from here, then lower targets include: ~3000, ~2400 and ~1800… watching.

 

Link to larger chart:  Link

 

SP00s – Though today was a trading holiday, the SP00s still traded on globex…

As I suggested this morning, the SP00s basically parked where they closed on last Friday…

At the end of the day, the trend remains upward and my SAR swing system remains long from 2745… watching.

 

 

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