market update
ADMIN: There won't be another weekend update.
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as mentioned in the last update
last few weeks have been extremely choppy. we need to respond to the data as it unfolds.
every breakout is NOT met with the follow-through suggesting trend exhaustion.
all short-term indicators are pointing bearish.
till we get a clear breakout or a big positive news catalyst
its best to go easy on risk-taking.
we got a scary dip in the markets. but 59k is holding up pretty well.
but it doesn't mean we should get aggressive in getting long.
For that, we would need to see a high time frame breakout.
till then markets seem to be in a consolidation mode.
also if we lose 58k support area all trend models would signal getting into CASH.
will send a note if it does.
For those who are new, can refer to some indicator reading materials
https://www.w3q.xyz/indicator/
https://www.w3q.xyz/web3quant-indicator-how-to-guide/
Coming to memes.
Apart from WIF PUPS DOG(DOGE) POPCAT
US elections theme memes are picking up pace.
we were early to BODEN and TREMP and that's done really well.
We now have popular political figures partnering with the political meme coins.
from a catalyst and signaling perspective, this is big.
I am expecting more such partnerships and media coverage as we head closer to the election season. which bodes well for the entire category.
BODEN & TRUMP continue to be the leaders.
few others could do well when we get the next HTF breakout.
some of the ones on Solana with potential are USA (American coin) and CLINT (BULL Clinton).
will send more when there's a clear breakout.
Coming to trend system positions. there are no new entries and 2 exits.
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