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With your spirit open and unconstricted, look at things from a high point of view. — Miyamoto Musashi

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Here at Charting Wealth, we focus on the reality of price movement by following trends. We teach you a simple and effective method to read stock, ETF and crypto charts, keep your emotions in check and learn when to buy and when to sell. Charting is your road map to the market and the riches it can offer.

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At ChartingWealth.com, every day the market is open, we chart the S&P 500, NASDAQ 100, Gold & Bonds. In just a few short minutes, we give you a valuable training update and quickly review the trends we see taking place in the market. At the end of every week, we give you an overview of what happened over the last five days and what’s on the calendar for the next trading week.

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Today’s Stocks, Bond, Gold & Bitcoin Trends, Friday, December 1, 2023

Miyamoto Musashi’s wisdom teaches us to stand back and see the bigger picture, ensuring we don’t lose sight of the forest for the trees. This philosophy is particularly relevant when we analyze market trends and patterns.

Understanding market movements requires a multi-tiered approach. We look at the immediate details through the half-day trees, gain a broader perspective on the two-day hill, and finally, view the overarching trends from the weekly mountaintop. This approach allows us to see the big wave, the primary driver of our trading decisions.

Recently, we observed a classic pattern in the market where it found a bottom and reversed with higher-than-average volume, leading to a significant uptick. Such patterns, while not always occurring, are goldmines when they do.

In our latest analysis, we’ve seen a modest upward movement in the markets, with indices slightly higher than the previous week. However, the movement is not substantial, indicating a period of sideways sliding. Volume analysis shows that we’ve already surpassed last week’s volume, but remember, last week was shorter due to trading schedules.

• The NASDAQ 100, mirroring the S&P 500, has shown a slight decline, maintaining a position near the weekly trend line. The biggest pullback noted was in 20-year bonds, which, after several days of significant growth, experienced a minor setback.
• Gold, despite pulling back slightly, has left us with a promising two-day candle, and its weekly performance is nearing average volume, indicating potential growth.
• Bitcoin, on the other hand, has shown a marginal increase, with its latest candle piercing the weekly trend line. The pattern we’ve observed in Bitcoin is a rise, followed by sideways movement and a pullback. We’re keeping a close eye to see if this pattern continues or if Bitcoin gains additional momentum.

For those practice trading Bitcoin, exercise caution. The market could either gain fire and shoot up or rotate and descend. As always, it’s important to stay alert to these patterns to optimize trading strategies.

To our Patreon members, I’ve shared this week’s weekly vertical crossovers – a curated list focusing on quality over quantity. I encourage you to practice trade these, along with charting cryptos, commodities, and currencies. Remember, if you’re not receiving your Patreon emails, they might be in your spam filter, or you can check our Patreon page for updates.

As we continue to navigate the complexities of market analysis, let’s remember the wisdom of Musashi: keep your spirit open and your perspective high. This approach not only applies to trading but to life itself.

Always eager to hear your thoughts and feedback at Charting Wealth World Headquarters. God bless, and happy trading!