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markets will continue to be very noisy, but what’s interesting about this past week is that we almost did nothing. After all, the previous week had been extraordinarily bullish based upon the CPI numbers coming in a little lower than anticipated in the United States, but there was actually no follow-through. What does this tell me? It tells me that there is not a whole lot of faith in the idea of the Federal Reserve slowing things down.
More likely than not, we probably will get some type of bounce, but bounces will almost certainly present fading opportunities for those who are willing to short this market.has had a slightly positive way, which in and of itself is a bit of a victory, due to the fact that the world is still reeling from the FTX blowup, and the potential of Genesis doing the same.
Nonetheless, the previous candlestick was much longer than the one this past week produce, so I think there is still downward momentum. Fading rallies that show signs of exhaustion will be the way that I think a lot of traders will be approaching the market. At this point, we could go down to the $15,000 level rather quickly.has rallied initially during the trading week, but it looks as if we are going to continue to see negativity. At this point, the weekly candlestick ended up being a bit of a shooting star, and that suggests that we are going to continue seeing downward pressure. The 0.
At this point, that does make a certain amount of sense considering all of the recessionary headwinds that we have in the United Kingdom.has bounced a bit against the Japanese yen, as we are trying to stabilize at what could be thought of as a potential trendline. Nonetheless, the ¥140 level will cause a bit of noise. Ultimately, the huge red candlestick from the previous week suggests that we could go lower, but at this point it’s going to be about the Bank of Japan.
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