Things Are Getting "Too Easy"

Weekend Market Report

Greetings, this is Michael Nauss CMT, providing the weekend market report from statsedgetrading.com.

Crypto Markets

The crypto markets saw significant breakouts this week. Bitcoin broke out of its recent consolidation range with conviction. Meanwhile, Ethereum lagged Bitcoin but displayed promising signs like 4-5 consecutive up days. Other major cryptos like Dot, Cardano, and Solana also appeared well-positioned.

Currencies

The euro and British pound both found support at key technical levels and showed signs of potential upside. The Australian dollar and other commodity currencies hinted at US dollar weakness.

Equities

Equities continued their relentless uptrend, with the S&P 500 closing at record highs yet again. While euphoric, markets cannot ascend indefinitely and some rotation is likely on the horizon.

Final Thoughts

In summary, risk assets broadly pushed higher this week across crypto, FX, and equities. However, prudent traders should exercise caution amidst excess optimism and prepare for eventual inflection points.

Sincerely,

Michael Nauss CMT statsedgetrading.com