During the past week we've witnessed extreme gamification of the stock market with GME and BB on the retail side for once. Retail traders took control and liquidated hedgefund shorts.
As a side effect, we've seen new signups breaking Binance, Coinbase, and other Cryptocurrency exchanges. I read that up to 10x new signups have logged onto Binance.
This is one of the elements that tells me the market could be at its short term top.
If we look at Jan 2020, Jan 2021 is closing with very much the same candle.
If 2020 is any indication we may be gearing up for a 20-30% correction in the coming months.
The particular time I would be looking at for real indicators would be the action on February 16th to the 20th (Mercury - Saturn) and week of March 1st.
These are when I believe the most pressure and downward action is likely. I'm putting in tight stop losses.
In the meantime, politically, the push for stimulus has been strong from President Biden. SLV, and other precious metal stocks are looking bullish. Stay tuned.
Posted Using LeoFinance Beta
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