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BTC 4 HOUR CHART -TRENDLINE SUPPORT
As I have noted, I prefer to look at chart patterns and pivotal levels more than technical levels on a crypto chart.
In this regard, watch the trendline as it will provide support on dips as long as it holds.
On the upside, BTC would need to move above 65K to suggest more legs to this recovery
US500 4 HOUR CHART – ALSO TAKING A BREATHER?
Similar to NAS, I read that July is historically a good month for stocks. Time will tell but I think I heard that S&P has traded higher in July for 8 years in a row.
Given the strong move up a pause and consolidation should noy be a surprise. To suggest more than a pause, 5445 on this chart would need to be firmly taken out.
NAS100 DAILY CHART – TAKING A BREATHER?
When we look back perhaps we will say the NAS high was in but looking at this chart, the highlighted level (red arrow) and the trendline would need to be taken out to suggest that this is anything other than a much needed pause and consolidation,
During this first week of a new quarter, suggest taking it one day at a time.
I read that July is historically a good month for stocks, time will tell.
US 10 YEAR BOND YIELD – PRICE IS INVERSE WITH YIELDS
As seen on this chart, bond is falling in price and yield is rising.
10-year 4.479%, +13.6bps
As I noted, FX is following with the dollar firmer
USDJPY extending its high, USDCHF extending its high above .90
EURUSD easing but gaps (1.074 and 1.0714)yet to be filled.
US equities are following lower as well.
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