Real Life Trading Blog
Yates CraigSatoshi Nakamoto became the 12th richest person on Earth on Thursday, and I hope many of you became much wealthier as fellow Bitcoin holders. I’ve been covering BTC publicly for years, and every new all-time high is always fun to celebrate.
Yates CraigAfter watching more price action come in this week, 2018 is shaping up to be the most likely analog we’re tracking. That said, it feels like SPY is headed to $700 before August. And mathematically, it’s possible—just 18 more days in a row like Thursday’s 0.75% gain to make it happen!
Yates CraigSideways chop and consolidation has been the name of the game for the last two weeks. SPY has rejected the key 2015 analog target of $604 twice now and has closed below the 10-day EMA three times since last Friday. That’s notable considering SPY hadn’t even really tested the 10-day EMA—outside of a brief one-day dip on May 23rd—for two months, since the April 23rd gap up.
Yates CraigNew Blog Post Description
Yates CraigSure, it was a fairly routine day for most stocks — but TSLA isn’t “most stocks.” It’s a breed of its own. And today, it took center stage as the poster child of volatility. TSLA closed down 14.26% after its CEO, a man you may have heard of, Elon Musk, started publicly feuding on X with none other than President Donald Trump.
Yates CraigBack in April when the market was falling hard, Jerremy compared the setup to Brexit—and we were both saying it looked like a very buyable event. That Brexit analog has continued to play out nicely. But now, we may be looking at an even more bullish setup, one more similar to the Covid recovery. If either of these scenarios is playing out, we should push higher for at least another 1–2 weeks. The Covid analog points to a move toward $630 before a meaningful pullback. The Brexit analog suggests a push to around $605. Let’s break each one down to get a better idea of where we could be headed. History, and stock charts tend to rhyme, so let's find some poetry together.
Real Life Trading Blog
Yates CraigSatoshi Nakamoto became the 12th richest person on Earth on Thursday, and I hope many of you became much wealthier as fellow Bitcoin holders. I’ve been covering BTC publicly for years, and every new all-time high is always fun to celebrate.
Yates CraigAfter watching more price action come in this week, 2018 is shaping up to be the most likely analog we’re tracking. That said, it feels like SPY is headed to $700 before August. And mathematically, it’s possible—just 18 more days in a row like Thursday’s 0.75% gain to make it happen!
Yates CraigSideways chop and consolidation has been the name of the game for the last two weeks. SPY has rejected the key 2015 analog target of $604 twice now and has closed below the 10-day EMA three times since last Friday. That’s notable considering SPY hadn’t even really tested the 10-day EMA—outside of a brief one-day dip on May 23rd—for two months, since the April 23rd gap up.
Yates CraigNew Blog Post Description
Yates CraigSure, it was a fairly routine day for most stocks — but TSLA isn’t “most stocks.” It’s a breed of its own. And today, it took center stage as the poster child of volatility. TSLA closed down 14.26% after its CEO, a man you may have heard of, Elon Musk, started publicly feuding on X with none other than President Donald Trump.
Yates CraigBack in April when the market was falling hard, Jerremy compared the setup to Brexit—and we were both saying it looked like a very buyable event. That Brexit analog has continued to play out nicely. But now, we may be looking at an even more bullish setup, one more similar to the Covid recovery. If either of these scenarios is playing out, we should push higher for at least another 1–2 weeks. The Covid analog points to a move toward $630 before a meaningful pullback. The Brexit analog suggests a push to around $605. Let’s break each one down to get a better idea of where we could be headed. History, and stock charts tend to rhyme, so let's find some poetry together.
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