Learn to trade and invest: http://www.informedtrades.com
Key points in this video:
1. Trendlines are converging on the US dollar and TLT, the ETF tracking long-dated US Treasury bonds. A breakout is coming, and once it comes, it may be easier to make a directional trade with confidence. The recent dollar rallies have introduced some doubt into the bearish USD view discussed in videos last week.
2. The S&P 500 is now at resistance, and a fall back to the bottom trendline of the channel it has re-entered — probably at around 2080 — is a reasonable expectation.
3. Converging trendlines exist on high grade copper, as the asset recently rallied off its bottom trendline.
4. Gold fell below a key trendline yesterday, thus potentially ending its pattern of higher lows. This makes gold look more bearish technically.
5. Bitcoin has gone parabolic. Chasing is not prudent, though I personally favor having a small position in bitcoin in the event the technology gains widespread adoption. I view it as akin to a volatile penny stock with a binary outcome.