TarotTrader Weekly Markets Forecast
Your Guide to Crypto & The Stock Market for the Week of 3/18/24
Crypto
Theme Card: The Hermit
Last week we drew the Three of Pentacles, a card that occurs near the beginning of a journey. As most weekly closes were red, it’s likely this signaled the beginning of a bearish journey.
So The Hermit arrives with a warning to stay away and avoid taking trades. This usually happens during a euphoric topping phase. We drew this card on the last rally before the big decline in January. Does the same thing happen again? It’s possible. We could retrace back up to the highs as a final squeeze/bull trap.
This guy is rarely negative as a daily card,and when he is, it’s very small. So I am leaning towards a trap. Still, we’ll let the daily cards decide.
Monday: Three of Pentacles
This was our theme card last week. It occurs near the beginning of a journey during the collaboration and preparation phase. It’s usually pretty boring and closes flat most of the time.
This could be the dying embers of last week’s selling, but it could also try to orient us higher after a red weekend.
We have a tricky setup for the rest of the week, so I’m not doing much here.
Tuesday: Ace of Wands
Aces bring new starts and plenty of energy to see it through. Here’s the tricky part though…Aces can serve as both 2’s and as Aces. A 2 says we’re going 3→2 and mean reverting. An Ace says we’re finishing Monday’s move. This card is slightly negative historically, but only because most of the data was collected during the bear market.
In either case, expect a strong trendy move here. I attribute a higher chance to mean reversion, especially if Monday showed any hints of negativity.
Wednesday: Six of Wands (FOMC)
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