$TLT ETF Trendline.

$TLT, which is the 20-year Treasury ETF, is sitting on a long-term trendline.  With it a virtual certainty the Fed plans to raise rates, and with all indications the economy is growing strongly and inflation is a real issue, I would be surprised if this trendline held.


I am going out on a limb here to say that I think the correction in $BTC which we called for a few weeks ago may have run its course.  I am looking to re-establish a full long position here.

$BTC – Warning signals on $BTC

A few weeks ago I posted that I was cautious in the near term on Bitcoin due to the potential bearish RSI divergence on the last move up.  We have seen a significant pullback and have just broken a fairly substantial trend line on the weekly chart shown here.  I am a long term bull but am going to look for better places to buy.

$JPM – May be a low risk trade

With inflation rising and the Fed about to increase tapering and possibly tightening, financials should benefit.  $JPM may be a low risk trade here as we have a double bottom and rising momentum against the recent lows.   I am buying some here with a stop loss below $157.

Major rebound in $QQQ after Powel calmed the markets yesterday

We had a major rebound in $QQQ after Powel calmed the markets yesterday, but the reality of rising interest rates is hitting technology stocks a bit today. There is a very interesting pattern developing on the charts – I am looking to buy volatility in the $QQQ as the ultimate direction is still unclear.  If we break the strong upward trendline, which happens to be very close to the 50D moving average, that will be very bearish in the near term.  If we get solidly above the recent highs, uptrend will look like it held.  Either way, It looks like we are poised for a large move and I am looking at option straddles to position for this.


$SPY – we may be a bit early but we have a possible negative divergence on $SPY

A weak close today would be a good sign to take profits on longs, or an aggressive position would be to go short against the high of today.