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 8/27/24
Neutral for the week of 8/27/24
GOLD
Bearish for week of 8/27/24
S&P 500 [ BTC [ ETH
8/27/24 Closing Prices :
BTC: $62,059.89 | +4.5% | (Tue-Tue)
ETH: $2,586.12 | -0.05% | (Tue-Tue)
Gold: $2,498| +0.04% | (Tue-Tue)
S&P 500: 5,625.80| +0.05% | (Tue-Tue)
Get ready. Only a few more days ’til a three day weekend (Labor Day) which is the unofficial end of summer. So get ready to trade swimsuits for couch sweats and football season.
With next week being an abbreviated 4-day trading week it will probably be much like this week. Dull, quiet and void of any significant news. Oh, the Fed will have it’s favorite report on inflation (the PCE…..Personal Consumption Expenditures) index released Friday. Will it have any effect on their decision to ease interest rates? Nah, probably not.
Since September is lurking just around the corner, let’s contemplate a thought or two. My first thought is to to reduce risk, lighten up investments and raise cash. September and moving forward to the end of the year is going to be extremely dangerous. NOT KIDDING.
In the meantime, while we bide time until next week and beyond, consider;
BITCOIN and ETH. Something is very amiss. I have been a staunch bull for eight years. There seems to be a massive amount of sellers between $65K and $75K. Rally’s meet selling after short bursts up. Neutral or even short.
GOLD. It hit news all time highs and now struggles. Neutral.
S&P 500. Big call here. Down on the year. If you can’t bring yourself to be short, be OUT. The stock market is breathing carbon monoxide. Soon to be much lower. It’s gonna get really nasty next month.
WHEN MARKETS GO DOWN, ADVISORS TELL YOU NOT TO PANIC. THE BEST WAY TO NOT PANIC IS TO BE OUT BEFORE MARKETS GO DOWN.
See you next week. Happy Labor Day.
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.
