No One Cares About Jackson Hole

StatsEdgeTrading

Bitcoin's Movement

Starting with Bitcoin, we saw some interesting action as it tested a key zone. Despite looking like it might fall apart, Bitcoin held strong and is now showing signs of a potential breakout. I’m currently in a small position, looking to add more if we see a sustained move above recent highs. Bitcoin’s strength is noteworthy, especially in comparison to Ethereum, which continues to show relative weakness.

Gold and Silver Shine

Gold made new highs this week, continuing its trend of consolidating and then breaking out to new peaks. I’m holding my gold positions as long as this trend persists. Silver, after a shaky start, also showed strength, and I’m eyeing it for potential trades next week if it presents any pullback opportunities.

Dollar's Decline and Forex Opportunities

The U.S. dollar experienced a significant breakdown, dipping below a crucial level. This has opened up potential opportunities in forex, particularly with the Euro, which is showing signs of breaking out. I’m watching USD/CAD as well, especially if we see any reversal in the dollar’s weakness.

Stock Market Insights

In the stock market, it was another week of strong rallies. The S&P 500 is nearing its highs, but I remain cautious due to the seasonally choppy period we're entering with the U.S. elections. Despite this, the equal-weighted S&P 500 (RSP) made new highs, indicating that the rally is broad-based, not just driven by big tech.

Notable Trades and Observations

One standout trade this week was Tile (TILE), which showed up on the StatsEdge Pro watchlist. After a strong breakout, I’m looking to add more if we get a pullback to a key support zone. Additionally, Alibaba (BABA) continues to perform well, breaking out of its downtrend and holding strong.

Final Thoughts

This week reinforced the importance of staying systematic and prepared for whatever the market throws at us. If you’re interested in accessing the same algorithmically-driven watchlists and strategies that we use at StatsEdge Pro, head over to StatsEdgeTrading.com and check out StatsEdge Pro.

Remember, trading is all about preparation and having a plan. Make sure you’re ready for whatever the markets have in store. Until next time, stay disciplined and get away from the screens when you can!