Weekly Update #34: Jun 18 2024

As anticipated, US dollar strength has created some headwinds on risk assets.

This strength in the US dollar could derail the bullish narrative for the next month or so.

No change in views. For now, things are looking decidedly weaker. The model is sitting on CASH. This shouldn't be surprising, as mentioned in the last update.

Momentum is significantly degraded across the riskON assets. Till we get a clear breakout or a big positive news catalyst, it's best to go easy on risk-taking.

Nothing to do here but wait till we get the next signal.

In terms of big-picture perspective, this is NOT the end of the cycle. The overall markets are still weak but this correction is a good opportunity to load up your high-conviction plays. Deep value zones for accumulation 55-58K for BTC. 2600-2800 for ETH and 100-115 levels for SOL.

LINK OF THE WEEK:

Jack Schwager, trader and author of the "Market Wizards" books, reveals the most important lessons he's learned from interviewing many of the most successful traders in America. BTW his books are a must read for anyone aspiring to become a trader.

That’s it from us this week, see you in the next one!

DISCLAIMER: The No Rainy-Day Portfolio is not registered with any financial regulatory agencies. Content is for research, education, and entertainment purposes and should NOT be considered personalized financial advice.