🏴‍☠️Market crash 2021 BIG UPDATE: Bull trap on SPY and more...

10 ม.ค. 2021

Hi mates, i sharing my thoughs about markets from last week and my view for week ahead.

So there is little summary of last week:

• Stocks SPY and QQQ had another up week and reach another all time high
  
• President-elect Joe Biden promise another $2000 stimulus
  
• BTCUSD soared to 40K and reach all time high
  
• TNX rose above 1%
  
• Labor market worsening, key economic data showed last week
  
• GC1! Sellof more than 4%
  
• DXY bounce from support at 89.50 level
  

US Dollar Index - DXY
Dollar index created inverted Head & Shoulders reversal pattern in demand area and started boucing off the lows, supported by massive divergence on long term CCI


Volatility index - VIX
S&P 500 Volatility index is still well above 20 level from 2020 and its set up for another bounce from its demand zone on 19.50 level


10 Years Trasury Yield
Yield of 10-y Treasury pumping up momentum. Last week advanced more than 20% thats big move, compared several weeks ago


Next week we expecting some important economic numbers and events:

• CPI and Core CPI
  
• Beige Book
  
• Unemployment Claims
  
• Fed Chair Powell Speaks
  
• Retail Sales and Core Retail Sales
  

Through next week i expect higher volatility will come. At friday AMEX:SPY created bull trap by candlestick pattern hanging man by piercing higher rising channel line supported by divergence on long term CCI. So i will play stocks very carefully next week for long side. We can observe some flow into Financial, Healthcare and Materials sector so these sectors could be a good play for next week.Expecting further rise of DXY and TNX so this could make some further pressure on commodities like GC1!.