Yesterday evening, the market had a micro-crash based on rumors that Iran was getting bombed (of all places!) Those rumors were quickly dismissed, and the market had a shaky recovery all night long.
As of half an hour before the opening bell, equities are bruised but no longer battered. When the Bible speaks of wars and rumors of wars, this is probably the chart it has in mind.
Although the /RTY futures are literally unchanged as I am typing these words, my short positions are doing great. I’m very pleased to see my lovingly chosen shorts are behaving themselves.
I’ll say it for the fiftieth time, though: keep your eye on Bitcoin! This, to me, is more important than any index chart, even though it ostensibly is irrelevant to equities. I am going to start building my BITI (inverse Bitcoin) position today and will add to it day by day.
Here’s the $BTC daily chart, with the key short-term trendlines added to emphasize my point.
