SPY/QQQ Plan Your Trade For 2-21 : Top Pattern Counter Trend

Today's Top pattern in Counter-Trend mode suggests the markets will attempt to move downward, seeking a new support level, then find a base and attempt to roll a bit higher.

I don't expect a big breakdown to take place today, but the YM is already struggling to maintain support - so we may see the ES/NQ break downward if the major markets continue to weaken throughout the day.

I do expect the markets to move into my Major Bottom pattern over the next 3-5+ trading days. So, overall, I expect the markets to reject these recent highs and attempt to move downward.

Gold and Silver should continue to rally with Gold trying to break above 3k and silver trying to break above $35.

Bitcoin is moving into an early stage Excess Phase Peak flagging formation. This should prompt a fairly solid rally phase for Bitcoin over the next few days/weeks.

If my longer-term research is correct, the recent new highs will be rejected and price will roll into a double-bottom type of setup between now and the end of March 2025.

I suspect traders are not prepared for this move and will continue to try to BUY any dip they see over the next 30+ days.

My only advice is to play the short-term trends and avoid position or swing trading too heavily.

The markets are going to become very volatile over the next 30+ days.

Get some.

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