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Market Macro right now.

T8terTrad3r@bbs profile image
T8terTrad3r
Sep 8, 2022
DXY broke out of its flag to the downside and is currently retesting.DXY broke out of its flag to the downside and is currently retesting.
BTC Dominance is still in a bull flag formation, but is currently at the center line of the flag and trending downward.BTC Dominance is still in a bull flag formation, but is currently at the center line of the flag and trending downward.
The S&P 500 broke downward from its bear flag ~2 days ago, and is currently trending upward, looking to re-test, possibly as far up as the lower line of the bull flag; however, it's currently halting at the 4017 resistance line.The S&P 500 broke downward from its bear flag ~2 days ago, and is currently trending upward, looking to re-test, possibly as far up as the lower line of the bull flag; however, it's currently halting at the 4017 resistance line.
The NASDAQ is in a similar situation, looking to retest at ~12732.The NASDAQ is in a similar situation, looking to retest at ~12732.
Total 1 broke downward out of its bear flag ~2-3 days ago and is looking to retest at~582.6, which is the congruence of the bear flag's lower support line (now resistance) and the flag's approximate midline Total 1 broke downward out of its bear flag ~2-3 days ago and is looking to retest at~582.6, which is the congruence of the bear flag's lower support line (now resistance) and the flag's approximate midline 
BTC bounced from resistance at ~18,800 and is currently trending back sideways between the 13 and 21 MAs. If upward movement continues, look for it to re-test the ~19,600, ~20,000, and (I believe likely at some point, barring macro pressures) the ~20,725 confluence zone. BTC bounced from resistance at ~18,800 and is currently trending back sideways between the 13 and 21 MAs. If upward movement continues, look for it to re-test the ~19,600, ~20,000, and (I believe likely at some point, barring macro pressures) the ~20,725 confluence zone. 

BTC did not confirm below teh 18,800 resistance line, so --while the market is giving mixed signals, and RSIs signal overbought--signs point up, imo. It could be a quick bump and fall when it happens.

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