After nine months at our current location in the Spanish Pyrenees it is moving time again. The house we had rented was sold in spring, but lucky for us (and not so much for the owner) we had already extended our short term contract until the end of September, giving us more time to find a place we liked.
Crypto appears to be the canary in the coal mine for what is awaiting the equities market later this fall. So let me start with the latter and then get you up to speed with the gift that keeps on losing.
The buzz in crypto over the past few weeks has been the long awaited ETH merge. If you’re the type of person who stays up at night reading up on complex technical details about how crypto currencies work then you will learn nothing new here, so this post isn’t for you. If you’re part of the remaining 99.9% then stick around and I’ll explain to you what the merge is, why you should care, and why you shouldn’t care.
The new CPI report came out yesterday and to no one’s surprise anything that wasn’t the Dollar got severely manhandled. Honestly, why anyone still falls for these bear market rallies is beyond me. So let me spell this out for you.
Summer is finally (almost) over and I’m proud to say that I spent the better part of it in hyper productivity mode, putting the finishing touches on a new crypto swing trading system I started putting together back in April. We’ll get to all that in a moment but first I’d like to set the stage and prepare you all for what’s to come in the near and more distant future plus how it will most likely affect every single one among us.
Strange things are afoot again in the equities market. While the ongoing rally in the S&P lost a bit of momentum on Friday we should not underestimate the sheer vehemence of the preceding advance. The notion of an instant reversal here seems far fetched but I’m seeing a few signs that point at a possible late summer party pooper.
Last week something unusual happened that took everyone by complete surprise. The new job numbers came out and shocked everyone with a payroll increase of 528,000 in July. How did the market respond?
Continue reading
The crypto sector is clearly attempting to produce a long term floor, which is evidenced by the series of higher highs and higher lows we’ve seen on both BTC and ETH. However there’s a problem and it’s a pretty glaring one. Both are distinct lagging behind the bounce in equities:
As we are slowly approaching the end game of the grandest monetary experiment of the 21st century I sometimes ponder what the Fed could do to turn things around. Throw in the towel and continue with another round of QE? Yes that may work, for a while at least if done on a massive scale. Remember that central banks worldwide are increasingly pushing on a string as every round of monetary easing requires exponentially larger amounts to have an impact.
After treating water for weeks on end bitcoin is finally on the move again – except now it’s suddenly heading HIGHER. You’d think everyone would be popping the champagne but just as I predicted the legion of shell shocked crypto HODLers just flipped from FUD back to FOMO.