Professor’s Comments – Before the Open 8/30/2021
Posted by OMS at August 30th, 2021
Good morning,
This weekend, we added a Market Timing Indicator to the cockpit for the Cryptos. The indicator uses GBTC as its base, so it is mostly a timing indicator for Bitcoin. I have not had a chance to test the indicator with other crypto currencies, other than Bitcoin, so I do not know how it performs with them. I have done some preliminary research with GBTC and MARA and RIOT, the two Bitcoin miners in the data base for the MWL, and it seems to correlate very well.
So, with a green indicator on GBTC and with MARA and RIOT still at the top of the MWL, I’ll be trading the cryptos today on the short-term bars.
I also did some work this weekend with a trend algorithm that uses my VTI indicator, the custom indicator that drives the Market Timing Signals. MARA was highlighted as being in a trend, with RIOT just about to start one. GBTC is also in an uptrend. It’s usually a good sign for a stock or ETF going forward once the VTI starts trending.
Two other stocks highlighted by the algorithm were WAB and PM.
That’s what I’m doing,
h
Not sure of the terminology we use? Check out these articles
The Hockey Stick Pattern
The Creation of Waves and Trends
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Category: Professor's Comments