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Market Update - November 7 2022

November 07, 2022

SPY hourly trend is key for market direction IMO, BTC Is still in a weekly EQ

SPY Hourly is key now, because if we manage to change the hourly to the upside, it means a daily bounce is in, and if the daily bounce is in, it might make the weekly lower high, step 3 for weekly trend change. so once we get a break on the hourly on SPY we will know better which direction the market chose.

The QQQs so far is dragging down the market still and it has less change to change the weekly.
XLF is still strong and is trying for a daily bull flag.

BTC is still in a an EQ on on the weekly, Daily and hourly are up, but needs follow through.

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