Elliott wave: stocks and Bitcoin eyeing supports for a rebound

I hope you had a wonderful weekend. I was away for the last three days camping here in Slovenia with my son and some friends. We had a great time swimming in a beautiful river — called Kolpa! If you ever get the chance, I definitely recommend visiting this spot.

Now, turning to the markets: we’ve seen a sharp move to the upside on energy prices, driven by the latest escalation in the Middle East as the US has now also joined the conflict by launching attacks on Iran. Naturally, this has triggered concern, and it's no surprise that stocks have slightly pulled back. Still, I’m quite amazed by how well the markets are holding up.

As for the dollar, there’s still a chance we could see further weakness. The fact that there hasn't been a solid recovery despite rising geopolitical tensions suggests that the dollar might still be hunting for resistance, possible for more complex wave 4 while SP500 and Cryptos are in retracement.

For more analysis, check my latest video below