"Burn Baby Burn!"

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Alright, let's dig in!

Last week's whipsaw in the markets came as no surprise! Consumer Price Index (CPI) and Producer Price Index (PPI) came in slightly lower than expected. In the midst of another regional bank failure, clues from the Feds suggest that there may be a pause in interest rate hikes. Meanwhile, the debt ceiling foofaraw continued to influence investor sentiment.

Other key highlights from last week:

• Oil prices fell for the third consecutive week

• Bitcoin price must hold about $27K for the rest of the crypto market to perform well

• Barbie and Boss Beauties to empower women via NFTs

• Web3 adoption by major brands shifts to Polygon in 2023

Watch the following closely in the week ahead:

Fed policymakers that are scheduled to speak during the week include Fed Vice Chair for Supervision Barr, New York Fed President Williams, Cleveland Fed Governor Mester, Minneapolis Fed President Kashkari, Governors Jefferson and Bowman, former Fed head Ben Bernanke, and the man himself, Fed Chair Jerome Powell. All these policymakers are said to be "Hawkish" (to learn more about Hawkish versus Dovish, read Issue #18).

The upcoming U.S. economic reports that will be the center of focus are Retail Sales Data and the weekly Initial Jobless Claims Report.

This week's earnings releases are shown in the chart below. Most notable companies are outlined in red.

The upcoming high-impact global news to watch includes the UK Claimant Count Change (UK Jobs), Canada and Euro Area CPI Releases, Germany ZEW Economic Sentiment Report, Australia Unemployment Rate, and European Central Bank (ECB) President Christine Lagarde speaks.

Next week's anticipated bias (not financial or investment advice):

• Monday (05/15/23) - Mixed markets

• Tuesday (05/16/23) - Expect positioning

• Wednesday (05/17/23) - Bearish

• Thursday (05/18/23) - Go with the trend

• Friday (05/19/23) - Bullish

Trading Tip: If there is a 20B Loss in Total MarketCap, take profits!

Week 05/07/23 - 05/13/23 Recap

Special Tools and Strategies

The Trading Room Price Action Scanner is a quick and easy way to identify trade setups without having to rely on lagging indicators. The scanner has two different components - the trend scanner and the LIVE Fibonacci Scanner.

The Trend Scanner helps traders identify trends across eight (8) timeframes for 300 coin pairs that are scanned in real-time. Trends are represented by the following colours:

• Dark Green – Strong Up Trend

• Dark Pink – Strong Down Trend

• Light Green – Sideways with Bullish Tone

• Light Pink – Sideways with Bearish Tone

• Grey – Sideways with No Bias

The Price Action Scanner scans LIVE Fibonacci (Fibo) Levels for Buys (longs) and Sells (shorts). Our personal favorite is the 3-Day time period (D3), which shows the peak movers and their live Fibo levels within the last 3 days.

Here is how we use the Trading Room Price Action Scanner for swing trading crypto:

• Look for buy setups between Sundays and Thursdays, between 6:00 am CST and 10:00 am CST.

• Select the following parameters - D3, Up Move, ALL.

• Look for the coin pairs that are green across all eight timeframes.

Using this swing trading strategy, you can see profits of 20% or more (in a day).

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Disclaimer: This newsletter is strictly educational. The information provided in this report does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the report’s content as such. Please be careful and do your own research.