Quick Markets Update

This week was options expiration, which can distort the short-term picture for a few days. Next week, we should get a better understanding of the volatility in the US stock markets over the last several days.

After breaking out of its blue flag, BTCUSD reached the H&S initial breakout high and then retreated over the last two days, morphing into a slightly larger consolidation pattern as the backtest.

The CDNX is trading right in the middle of its new trading range, forming the second consolidation pattern with more work to do.