But will it work this time? The overlay of hourly BTC on the chart of the ES, S&P futures, shows time and again that BTC leads the US stock market by an hour or more, and usually diverges by at least a day or two ahead of the market. Stocks follow BTC.
On Friday BTC surged after starting to move up slowly on Thursday while stocks were declining. Stocks have yet to surge. If they do it again, blow me. Because it would be too easy to follow this model. Everybody will start doing it, and then it will stop working, as these things are wont to do.
By the way, this correlation didn’t just start. I looked at the chart going back many moons ago, and it has worked for some time. It will stop, but when? I don’t know.
Meanwhile, we have a broad uptrend working in the ES. They need to stay above 4480 as of 5:30 AM in New York to keep the channel intact. That rises to 4490 as of the NY open. The line is rising at about 10 points per hour.
If it breaks, first target would be a test of the last low at 4447. If it lifts off, first target is 4540, and if they clear that, the measured move target would be 4630.
I’m having a ball my first week living in Nice, which in reality is an Italian city in France. 😁 Ciao!
https://www.instagram.com/200daysineurope/
Meanwhile, the big picture:
Don’t Be Fooled, The Economy is Still Growing And Still Bearish
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