Markets are holding a constructive tone, with equities showing signs of continued upside despite short-term consolidation, while Bitcoin maintains strong momentum within a sustained bull trend.
1. $S&P 500(.SPX)$
During the last 10 years, every time the Stochastic bounced from oversold area and made it above 50, the index maintained bullish continuation and consolidated when the oscillator was overbought (+80) with both lines.
There is room for further gains, as %D is at 65%.
2. $SPDR S&P 500 ETF Trust(SPY)$
Indecision at the Top: The price has moved between 702.5 and 711 this week, building a small volume shelf.
Any loss of today’s low could send the price to $695 (volume shelf below), validating the short-term bearish RSI divergence and the healthy consolidation thesis.
$BTC: Bitcoin is in a bull trend consistently invalidating daily shooting stars as momentum continues.
The 10-day moving average is carrying this move and the price is far from greed. Don’t rule out a test of $80.6K within the next couple of days if $77,6K is conquered.
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