Front month contracts for Bitcoin and Ethereum were respectively down -9.40% and -10.28%. This unanticipated decline which immediately followed last week’s record highs left many experts scratching their heads and searching for excuses. Here are just a few of them:
SP-500: Bullish reversal is in play and now it needs to overcome resistance @ 3984 to confirm legitimacy. 10-Yr Note Yield: Bullish reversal is indicating a resumption in rising rates. Bitcoin: Selling has ceased and another bullish reversal pattern has formed to establish a higher low on the recent pullback. This translates into continuation of the bullish trend.
Equities SP-500: Bullish trend remains intact but under consolidation. Nasdaq-100: Building support at 22-week moving average and consolidating. Trend has…
Hopes of a stimulus jumpstarted stocks from yesterday’s losses but were dashed once it became apparent that its passage faces opposition from both sides of the ailse, albeit for different reasons. With Senate GOP leader McConnell…
President Trump announced potential tax cuts on capital gains and income. However, admission from Senator Mitch McConnell that stimulus aid talks were at a stalemate quickly curbed investor enthusiasm…
Against the backdrop of such a fundamentally weak landscape, market breadth was disturbingly narrow as advancers represented only a third of components in the SP-500 or Nasdaq-100…
The SP-500 (SPY) and Russell-2000 (IWM) finished the week in positive territory, respectively up +0.68% and +1.44%. The DJ-30 (DIA) and Nasdaq-100 (QQQ) declined slightly over the last 5 days, respectively down -0.29% and -0.43%…