Finally, we may be seeing the start of a decent correction in the #US #stock #markets. Hold on to your narratives. Mine has always been tax drain in April. Now I have the #DJIA (YM) doing its best to make my magic crystal ball predictions come true. I am clearly talking up my own book too, as why else would I want a decent pullback in a US presidential year, when the month of January closed positive? My game plan in 2024 was to sell the BTCUSD holdings that I have and stuff them into a US index portfolio on Darwinex
The longer the #BTCUSD holds up, and with any luck continues going higher, and the lower the US indices go the better IMHO.
This is what I told my subscribers:
Just a heads up that at the very start of the massive sell-off before Cøvid, the Dow Jones Industrial Average a.k.a WallStreet 30, #US30, #YM, #DJI, etc. moved first. by making a lower high on Feb 19th 2020 https://lnkd.in/e6ujKacD now it seems only the S&P500 didn't get the message https://lnkd.in/eWiib758 and tech stocks are mixed today. I wouldn't bank on these market averages making a new high until after all the #tax drains of April are out of the way. And then you have to deal with the summer doldrums and then the September tax drain. So assuming the market likes the result of the new President we may have to wait until November for a new All-Time High. Other bits of news to watch out for includes the "will they, wont they, cut #interest #rates in the Summer?"
Good luck to all the recession people, and the monetarists who watch every tick on the 10-year treasury #yields. And to anyone that gives the #Fed any credit for anything, please unsubscribe from me, you will find the next 60-months of posting from me very very annoying!