Weekly Watchlist Update: Stocks Soar to New Highs and Crypto Surges

Quick note before we cover the market and the watchlist. Going forward we are going to make our video updates and market outlooks available to all. So make sure you go check them out if you have not been a premium subscriber up to this point. Deeper market insight, actionable ideas and watchlists will remain for premium readers only. Now let’s wrap up the week.

The markets got some life this week between CPI and the GME story. Stocks made new all time highs GME exploded and crypto got a shot in the arm.

At the beginning of the week we said to have caution in the stock market with the 60 year cycle playing out so well. We missed the mark on that a bit but we said on X to watch how we close the week.

Below you can see how we have the exact same setup as the 60 year cycle currently with a higher high in price but the RSI is failing to make a higher high. So short term still watch out for that bearish divergence into next week.

I’m not a bear here by any means just saying to watch for a better buying opportunity next week if we get it. New all time highs is a sign of more strength to come but we are following the election cycle so watch for that late May and first week of June I gave you to be a possible low before what could be an even bigger rally.

As for crypto BTC is climbing level by level here. Attempting this morning to break back over the 1/1 downtrend line. It’s already regained the 50% level from the top and the higher time frame 1/1 line with the green line below the price. So I have no concern at all that this is a sustained move.

We will however continue to watch that June 7-11 window I highlighted here. That could be a minor top if we continue to rally into that window.

That said, after further analysis I do not see any MAJOR inflection points until August. You can watch my report on that here. The next few months are likely to only be smaller turning points. The question is will the August window bring about a major high or low.

My initial analysis called for a high but we will have to see how price is trading into that window. The only exception to a range bound summer was really 2012 which makes things interesting since 2012 was a major run going into August and we have no major inflection points until then so it’s something to monitor.

Lastly, I will give you some price target to watch if we do break to new highs here. Which, if we follow the stock market, and we always do then we should see new highs over the next months.

The fist area to watch if we get a breakout to new highs will be 87k. That would make for 200% of the previous move in the market. A more minor point in my view.

The next two price targets will be more important to watch.

The first being 95k. 95k would put us as at 150% of the 2022 bear market range.

If we get above that I do believe the next significant top will come in around 108-113k.

So, if we are arriving at any of these prices WHILE we are also at an important inflection point you will want to be very cautious.

Now let’s get to our watchlists.