Weekly Watchlist Update: Handling Market Volatility and Key Reminders

I’d be lying if I said this is not a tough market right now. Subscribers know my bias remains up but things have certainly gotten tricky with the equities market showing signs of weakness and big bank earnings on deck this morning. As I said last week the market needed to find a low soon and it appears to have done that but it still hasn’t gotten the momentum we would like to see.

Often the market likes to make everything look really bad just before resuming the trend. That is what we call a bear trap. It gets everyone bearish because the technicals look bad then the trap is set. That is where we are on many of our watchlist positions at the moment and even the overall market.

The next few weeks are going to be critical. I believe we will definitely get one more impulse move to the upside it’s just a matter of WHEN not IF. The important thing to remember is that although the crypto market can be painful for several weeks at a time when it moves it happens very fast. Bitcoin can easily advance 30,000 points in two weeks time. It has moved 10,000 in a day so 30,000 in two weeks is nothing especially if its a final euphoric leg. Right now the market is doing its best to fool both bulls and bears so hang tight the May window is still in play.