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Market Update November 9 2022

November 09, 2022

SPY Hourly from MP to EQ, daily consolidation possible. BTC Monthly, Weekly, Daily and hourly down, the only thing still up are hopes :)

SPY is still at a key level IMO, we are looking for daily continuation or more downside, once we confirm the hourly downtrend we know daily consolidation is in.

QQQ is much weaker on the daily so if we lose the hourly the daily will probably see a LL

XLF has a double top on the daily, but thats only valid if we confirm an hourly downtrend from here, and also we could just go into an EQ in case we do change the hourly.

BTC is down on all timeframes, so the EQ break on daily with no followthrough is working out. IMO we can come revisit prices from back in 2020.

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