Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Good Morning – RedlionTrader's First Call Morning links:
Today's Economic News:
Quote of the Day: Current Breadth Readings:This is the New High / New Low ratio chart and it continues to move sideways, note how the markets trended last time we did the same thing, all the way through January. ES SP500 Futures Comments:Short: 1561 We hit the 1557 head and shoulders target and that has us moving up our top box by just inches. We don't see a thrust up through here but instead a spot that should exhaust and take a step back for an attempt at new highs. We think that step back could take us to the 1537 area, but we are not sure of which inch is going to be inch to far yet. Today is the last day OPEX week, it will spill a bit into Monday morning's trading. Until we see a crack one way or another we need to think higher on low volatility. Our intraday ticks look great and our A/D line on the NYSE yesterday was nearly 2:1. That is bullish. Take today off, or come back and watch the close.. Action will most likely have to wait until next week. Enjoy the weekend. US Dollar DX Futures Comments:A decent sell off in the Dx overnight.. we haven't had time this AM to evaluate, but there could be some fuel here for higher stock prices. TLT Twenty Year Bond ETF Comments:We will start covering this again next week. >>> Follow us @redliontrader<<<<<
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Breadth Charts In depth:
The Zweig is bouncing back but remains in grind mode;
The CVI is following price and not issuing any warnings:
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DPI ok, but not higher, so the price momentum on the breadth remains sluggish.
The NH/NLs remain in trend mode:
Trenders remain bullish:
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.