The succession of recent articles over at Biiwii have been bullish. Indeed, if my NFTRH update post from this morning had been posted over there it would have presented another view of bullishness for the coming weeks and possibly, multi-months.
Let’s be clear, the market has not officially taken back the ground it needs to take in order to signal the short-term correction over but, this…
That very headline embodies a scenario we had planned for a couple of weeks ago in NFTRH 494. Here is a screenshot of part of 494’s Wrap Up segment. Understand that this was written while things looked bleak far and wide, and we are already another week+ into a sentiment recovery process.
Now, I am being presumptuous in two ways. As noted above, the market has not officially taken out the correction scenario and also, my working guide is that a larger top may be taking place. The other scenario of course is ‘move along, nothing to see here… bull market resumption’.
If the relief scenario engages that’s all we need for a while. Then, during that recovery we’d need to gauge macro indicators like stocks vs. gold (still intact for market bulls), yield curve (still flattening and intact for market bulls), bond market indicators (still intact for market bulls), etc.
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