This is the video recording of our July 6, 2021 Monthly Charts Live Strategy Session
From the desk of Louis Sykes @haumicharts and Steve Strazza @sstrazza
The Crypto space just experienced its worst day since the height of the Covid crash.
Bitcoin was down over 30% on an intraday basis, while Ethereum was almost cut in half.
We see this recent action aligning Crypto with what’s taking place throughout the market. Bulls have had a more challenging time in recent months, and risk assets are coming under increasing pressure.
Speaking to this topic, here’s what we outlined in a note earlier this week:
One more chart that I think is interesting is the Bitcoin / Gold ratio hitting it’s upside objective and reversing hard.
How many people are telling you to sell Bitcoin to buy Gold?
I don’t hear any at all….
Of course, we had no idea a 30% crash was on the horizon… The conditions simply warranted owning defensive assets like Gold over Bitcoin. And this is something we’ve been seeing across asset classes all over the globe.
Long story short, the writing was on the wall – and after such a great run, it’s only normal to see some corrective action.
We’ve been talking about this rotation out of Growth Stocks and into Value Stocks since last year. The trend here has been very strong.
We keep seeing this all over. Check this out for more.
Another chart that stood out this weekend was the number of new 52-week highs on the NYSE, which has much more exposure to value and much less growth.
Meanwhile, the Nasdaq, which is almost all Growth, isn’t seeing these new highs at all.
No one wants them. [Read more…]
This is the video recording of our May 3, 2021 Monthly Charts Live Strategy Session
On this week’s episode of Bearish or Bullish, we talk about Year 2 of Bull Market cycles for stocks. Is this one those? Like 1976, like 1983, like 2004, like 2010?
What about Ethereum continuing to hold its breakout? Why is Ether doing so much better than Bitcoin?
Financials and European stocks breaking out of historic bases?
European Super Leagues? The Knicks don’t suck?….what the heck is going on around here?
Let’s discuss: [Read more…]
This is the video recording of the April 2021 Conference Call.
The big news to end of the week is Ethereum completing this monster base and breaking out to new all-time highs.
For me, I don’t care if we’re talking about Crude Oil Futures, Apple or Tesla shares, Treasury Bond ETFs, Gold, Silver, Crypto….
It doesn’t matter to me. It’s just letters and math. All that other stuff isn’t my problem.
The trade has been to be long ETHUSD if we’re above those former highs from 2018. It was that simple. The risk was very well-defined and the potential reward was exponentially greater. That’s what we look for. And so far, that strategy has worked well for us.
But now, while stocks are on holiday, Ethereum is really making a go of it: [Read more…]