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Cross Asset DeMARK Analysis
Bitcoin: Seeing a good bottom made in the medium term. Seems like the "capital flight" bid is somewhat over for now but it ended up being a decent risk proxy for the rest of the market, yet again. I wouldn't look at this chop at the high end of the range as a signal though given it just went from 35 to 45k in just a week. Give prices time to digest.
SPY: I'm updating my forecast for the S&P slightly higher in the medium term, looking to buy all pullbacks for 455. Nice double TD 9 Buy setup and the TDST downside break never qualified. I would be targeting TD Trend Factor near 450-455. I would also completely forget about Ukraine at this point when it comes to US equities. Don't get left behind on something that was priced in.
GDX: I had a strong bearish bias coming on these miners but they are holding up really well and gold looks to be confirming a massive cup and handle pattern on the long-term charts.
Hard to be short this chart below.
The actual miners are close to qualifying TDST upside breakouts. The pain trade looks like it might be short bonds, long gold miners.
PS - stay short bonds. The trend is strong with this one and if this is the best the treasury markets could muster for a possible WW3 situation, you have to believe there is a lot more upside for rates -- and the Fed hasn't even started hiking yet.
I did take a little bit of profits from yesterday's idea on getting short bonds but I am still looking to short all pops. Best of luck.