2024/5/24 22:26 utc+8

From yesterday to today, the market is weak. In the next week, we will see fluctuations. We should control our hands and not do anything randomly, or even not do anything.

From last night to today, the overall market is bearish. After 22:00 tonight, I saw the data from the University of Michigan and did not see the direction quickly. I closed the short order and opened a long position immediately. But the long position was not done well and was shaken out lightly.

Let's look at durable goods first. Durable goods consumption is resilient

The initial value of durable goods orders in the United States in April rose by 0.7% month-on-month, and the expected decline was 0.8%. The final value of March rose by 0.9%, and the initial value rose by 2.6%.

Among them, the initial value of durable goods orders excluding defense was flat month-on-month, and the final value in March rose by 2.3%, and the initial value rose by 2.3%; the initial value of durable goods orders excluding transportation rose by 0.4% month-on-month, and the expected increase was 0.1%. The final value in March was flat, and the initial value rose by 0.2%; the initial value of durable goods orders excluding aircraft non-defense capital goods rose by 0.3% month-on-month, and the expected increase was 0.1%. The final value in March fell by 0.2%, and the initial value rose by 0.1%.

Looking at Michigan again, inflation was revised down, and consumer expectations weakened

Data from the University of Michigan showed that consumers expect prices to rise at an annual rate of 3.3% next year, lower than the 3.5% expected earlier this month. They expect inflation to rise by 3% in the next 5 to 10 years, which is also lower than expected earlier this month and consistent with expectations in April.

This improvement may partly reflect the steady decline in gasoline prices this month. Although the final value of the consumer confidence index in May improved from the initial value, it still fell significantly by 8.1 points from April to a six-month low of 69.1.

The data is reasonable, and the economy is still resilient, but consumers are already worried or expectations have weakened. If you don't cry out in pain, you won't get any candy.

The market is volatile, and the linkage between $BTC and $ETH is still very strong. I am worried that there will be speculation on ETF issues in ETH. BTC is less risky, but not too safe. So try to control your hands and don't do it before the end of the month.

Are you bullish or bearish in the next week?