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Thursday, July 10th
“Hell is empty and all the devils are here.”
– Shakespeare
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Markets Today
🌏 Asia-Pacific: Mixed
🇪🇺 Europe: Mixed
🇺🇸 United States: Up
🛢️ Oil: Down
⚡Crypto: Up
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Major Market Events
- Trump imposes 50% tariff on Brazil — Levy on metals signals broader trade crackdown as August 1 deadline looms for copper restrictions.
- Delta stock surges on earnings beat — Airline raises guidance after Q2 results top expectations, easing investor fears about travel demand.
- Bitcoin hits new record high — Crypto rallies as traders rotate into digital assets amid inflation and geopolitical uncertainty.
🤔 My Thoughts
One of the coolest things about technical analysis is that sometimes, simple works.
On Profit Panel earlier this week, we walked through a chart pattern that’s about as simple as it gets — and yet it’s incredibly powerful.
It’s called the Golden Cross — and if you’ve never heard of it before, here’s what it means:
The Golden Cross happens when a shorter-term moving average like the the 50-day crosses above a longer-term moving average like the 200-day. That’s it.
Like I said, dead simple.
This signals a shift in momentum from bearish to bullish.
And historically, it’s been one of the most reliable setups in all of technical analysis.
How reliable?
Well, according to historical data going back to 1975, whenever a Golden Cross has formed on the S&P 500, the market has gone higher over the following year 88% of the time.
That’s not a guarantee — but it’s not nothing either.
We showed this exact pattern forming yesterday on the chart for URTH (iShares Global ETF).
And even more interesting… it just triggered on Amazon (AMZN) as well.
Now, Jeffry pointed out that this isn’t just some internet meme indicator.
Hedge funds and institutional traders pay close attention to this crossover… and for good reason. It tends to mark the start of longer-term uptrends.
Jack added that he likes to use EMAs (exponential moving averages) rather than the basic SMAs (simple moving averages).
And he even dropped a trade secret, telling us he prefers the 23 EMA and 54-period EMA (instead of the more common 20 and 50) to smooth out noise.
But even he agreed: this kind of crossover is a big deal.
And here’s what makes this especially timely…
Markets have been grinding higher.
We’ve had a little breather this week… a bit of a pause in the rally… but now we’re seeing signs that things could resume to the upside.
If that happens on the heels of a Golden Cross… we may see a lot of traders jump in and chase the move.
Could it be a blow-off top? Maybe.
Or maybe we just melt higher into year-end, dragging the bears along for the ride.
Either way, this is the kind of signal I’ll be watching closely — and I hope you will too.
If you want to see more of these setups live — and hear how we’re actually trading them — join us for Profit Panel… starting in just a few minutes.
👉 Click here to join the FREE live room
To Better Trading,
Alex Reid
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