Today’s Stocks, Bond, Gold & Bitcoin Trends, Wednesday, November 1, 2023

The Power of Consistency in Building Wealth and Mastering the Markets

"Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones." - Benjamin Franklin. This quote encapsulates the essence of success in any endeavor, especially in the realm of trading and wealth management. Consistency is the key, as I've learned in my 62 years on this planet. It's what many lack, whether in physical fitness, spirituality, or wealth accumulation.

In the Marine Corps, an older officer once told me, "All I want from my Marines is consistency." This principle applies equally to trading. Consistency guarantees results, whether it's failure or success. It's the difference between being a winner and a loser. Stick with the right things, and they will come true for you.

Today's Market Update

As we look at today's market, we see stocks are up somewhat, with bonds and gold down, and Bitcoin showing a slight increase. Diving into the S&P 500, we notice two days of modest upward movement. However, it's crucial to remember that two days of gains don't necessarily indicate a trend reversal. Keep your eye on the prize and remember the importance of the weekly trend line across all charts.

NASDAQ 100

The NASDAQ 100 shows an even smaller uptick than the S&P, yet it's still moving up on the half-day chart. We're watching the volume and the formation of the latest two-day candle closely. The weekly chart presents a down candle, not yet reaching the low of last week, but with decent volume just two days in.

Bonds Update

Bonds are down for the day, with the volume on the weekly chart approaching average. We've been riding the downward trend, utilizing instruments like the Tango Bravo Foxtrot, a single short by ProShares that goes up when bonds go down. For those unfamiliar with inverse funds and how to capitalize on downward market moves, we have special training available at the end of today's video.

Gold Pulling Back

Gold has pulled back slightly today, still hovering above the weekly trend line. We're watching to see if it's digesting prior gains or gearing up for another ascent. The volume is almost at the average just two days into the week, indicating significant market activity.

Bitcoin Going Up

Bitcoin, with a marginal increase of 0.23%, shows a green candle for the week, but the volume is unremarkable. We're observing the two-day chart, which has slowed down on the first day of the latest candle.

Quick Tips

As we approach midweek, it's an excellent time to step back and assess the macro view of the markets. For those who want to deepen their understanding of inverse funds and how to profit during market downturns, make sure to take the training provided at the end of today's video.

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Thank you for being with us. God bless, and all the best from the whole team at Charting Wealth World Headquarters.