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Market Update - January 19 2023

January 19, 2023

SPY Weekly and daily Up, Hourly Down - BTC Weekly and daily up

SPY is Weekly up, Daily still up, Hourly down.
If we hold the daily or even the weekly i am looking bullish for a longer term turn around in the markets.

If we cant hold the weekly, which is 374.80 i am looking berish

QQQ is daily and weekly up, hourly MP, but we are looking for a LH.
XLF is weekly up, but daily lost support and hourly is also MP but looking clearly for a LH

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BTC looks a lot stronger than the markets now, the daily and weekly are up IMO.
the monthly needs to turnt next, but as long as the weekly holds its very possible to do so and bounce for a few months.
if the market turns around ill be more confidence in the Crypto bounce, but in any case i am gonna measure how strong the weekly chart stays, if we come all the way down to 16300, then its most like not gonna go up so fast, and we might stay in this range for a longer time, if we just flag and see continuation, its gonna be more convincing.

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