The US Dollar took a little break from going up yesterday, and that has continued a bit this morning.
A funny thing happens when the Dollar isn't ripping - stocks and crypto prices are able to rise....
Today is Crypto Fridays around here at Allstarcharts.
We start with our 7AM meeting with the whole Crypto Team going over everything from the major trends, to new coins popping up on our screens, or the latest from the private world of defi and web 3.
Then at 10AM ET we hold our weekly Crypto Strategy session for Members of ASC Crypto.
[Call +1 (323) 421-7910 to access ASC Crypto Trade Ideas and Reports]
In addition to all of this, I like to schedule my "Crypto" type meetings to Fridays as well. So it's become Crypto Fridays around here, almost by accident, and I like it.
It's fun.
Anyway, this is what's on my mind today.
Tell me there is a more important set of charts in all of Crypto right now.
Prices of the two biggest and most important coins are back to the prior cycle's high:
Last night, the Wall Street Journal reported that Paul Singer’s Elliott Management is now the largest investor in Pinterest $PINS, having built a stake greater than 9%.
While the hedge fund hasn’t filed anything with the SEC yet, it has apparently been in discussions with the social media company for the past several weeks.
I’m not conjuring a metaphor. This is happening in real life… in a jar on my desk.
A few weeks back, I found some Black Swallowtail caterpillars in my dill patch. I collected several, provided a steady supply of fresh dill, and watched them grow big and plump.
Eventually, they attached themselves to a stick, shed their caterpillar skins and have spent the last couple of weeks undergoing an amazing metamorphosis inside their chrysalis.
Reorganization complete, they are now emerging anew.
When investing in the stock market, we always want to approach it as "a market of stocks."
Regardless of the environment, there are always stocks showing leadership and trending higher.
We may have to look harder to identify them depending on current market conditions… but there are always stocks that are going up.
The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too.
We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club. We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics.
Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports. Now, we're also highlighting lagging stocks on a recurring basis.
These are the registration details for our live mid-month conference call for Premium Members of All Star Charts.
Our next Live Call will be held on Monday July 18th at 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
