Common Sense for Uncommon Markets
By Bill Taylor, CEO / Digital Wealth News and AI & Finance
DISCLAIMER: The opinions expressed below are my own & do not represent those of DWN or any affiliates. Any financial advice included here is for entertainment purposes only.
Bullish for week of 8/13/24
Neutral for the week of 8/13/24
GOLD
Bearish for week of 8/13/24
S&P 500 [ BTC [ ETH
8/13/24 Closing Prices :
BTC: $60,710.75 | +7% | (Tue-Tue)
ETH: $2,701.87 | +8% | (Tue-Tue)
Gold: $2,440| +3.3% | (Tue-Tue)
S&P 500: 5,434.43| +3.7% | (Tue-Tue)
Last month of summer. The start of football season is only weeks away. Schools will be fully back. AND, perhaps we can get away from the choppy financial markets. Up, down, down, up, no movement, up and then down. Whee!
No matter what you think, or your bias, just keep in mind any news or economic numbers coming out are not to be believed. It’s election time. Fake news, dis-information and lies abound. Enough said.
Hopes are running wild fully expecting (again) that the Fed is finally, probably and for sure going to ease interest rates. Boy, I sure hope we are the only ones that know that.
The next few months are going to really test everyone’s nerves. Black swans are circling and one or more of them will probably land. Don’t take our election for granted. It may be “postponed.”
After 15 years the financial markets may have reached their peak. Slowly, lower highs and lower lows are creeping in. Don’t be eager to buy every dip or chase every rally.
Remember…
DOGS CHASE CATS | CATS CHASE MICE | COPS CHASE ROBBERS | BUT, SMART INVESTORS/TRADERS DON’T CHASE MARKETS
A lot of money is being plowed into financial markets AFTER a 15 year bull run. With tons of uncertainty. Greedy?
So, what to do?
Get neutral, Lighten up. Play defense.
BITCOIN & ETH. Looks like more downside. Hurts me to say that, but there are way WAY to many bulls and price action stinks.
GOLD. Neutral to slightly bullish. Gotta put money somewhere I guess.
S&P 500. Wait till you see the REAL downside. Strong possibility of being down on the year. Short to neutral.
DON’T BE SURPRISED BY THE SURPRISES COMING.
2024 TARGETS:
- BITCOIN 2024……..????????
- ETH 2024…………???????????????
- GOLD 2024……….??????????
- S&P 500 2024……..??????????
Current trading positions:
- SHORT BITCOIN
- SHORT ETH
- NEUTRAL GOLD
- SHORT S&P 500
We compare the price of Bitcoin, Ethereum, Gold & the S&P 500. We use the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference as well as the London Bullion Market afternoon price settlement on the digital assets & gold.
Bill Taylor is CEO of Digital Wealth News. He is widely published & quoted in financial media and an international expert on markets and BTC, ETH, Gold & SP500.
His opinions are solely his own and for informative purposes only.
