This chart here tells you everything you need to know.

These three individual charts are the the perfect signals for which kind of financial environment we are in, and what we are heading further towards.

- $RUT
- $ETH
- BTC.D

As I've mentioned a fair few times now, the $RUT is the index for small cap stocks. These are high risk stocks and this index thrives in better liquidity environments.

Just like $ETH, which moves in a close lockstep to $RUT for that reason.

Then BTC.D represents the level of liquidity rotation from BTC into the wider market, which only happens during easing liquidity conditions also.

So when we have:
- "Not QE" just started and a new easing cycle
- $RUT sending into price discovery
- $ETH bottoming and breaking LTF trend
- BTC.D teetering on the edge of breaking down

What does that signal to you?

Does this liquidity and overall market position look like its over?

Or that its just getting underway?

I've also thrown in the 1M MACD at the bottom here as it flipped bearish some months ago... only for $RUT to continue to new highs.

The 1M MACD ticking bearish on BTC is irrelevant and a lagging indicator, which can, as you can see, flip back and continue to new highs.

Liquidity is the only thing that matters.