The US stock market has been moving quite steadily this week. Trading volume wasn’t high, but it still went up a bit, climbing from 23,110 to 23,680. However, there’s still an unfilled gap up at the 23,800 level. My ideal scenario would be for the market to open with a gap up and quickly spike to fill that gap, then drop decisively when it’s time to fall.

Speaking of news, the double whammy of the Fed rate cut and the Bank of Japan rate hike back in December was pretty interesting. Last week, as soon as the Bank of Japan raised rates, BTC instantly crashed, but unexpectedly, the drop couldn’t hold, and it quickly bounced back to 94,000. I figure the market is probably still hopeful about the Fed’s upcoming rate cut. In theory, the Fed rate cut on December 9-10 should be bullish, but with the expectation of Japan’s rate hikes in the mix, the good news has most likely already been priced in.

With the current market, you need to be patient and not expect quick wins. The major tech sectors aren’t performing well right now. Even if the US stock market manages to hit new highs, I don’t think it can last very long.

My current strategy is this: if US stocks really manage to rally close to the 25,000 level and BTC also returns to around $100,000, I plan to add another batch of short positions at that time.