Crypto and Stocks Had A Strong Month - My Thoughts

These two charts show the S&P 500 and the Total Market Cap of all cryptocurrencies. I've put them side-by-side using the multi-chart layout feature. They are set to monthly candles. So each candle represents one month of trading.

For August, both stocks and crypto had an BOOMING month.

I am a bull in general these days, BUT I do think things are moving fast. Faster than anyone expected. And, sometimes, this could lead to painful declines. So I am hesitant in terms of wanting to buy and hold long term at these prices. Amazing for trading, though.

Stocks are at all-time highs while the crypto universe is trying to push forward as well.

I do believe the world is more interconnected than ever and goods can transact and move faster than ever. It's only a reason why markets would be going higher right now. Add in the additional growth to the money supply and low interest rates and it's the perfect bull market.

I also think the market could go higher.

Why?

Because I think the market and economy in general has been undervaluing companies like Google and Apple for years now. Think of the value that Google brings to everyone's life. The capitalists of the early 1900s would pay millions for a library to have in their homes. Google brings a library to everyone's home in a matter of milliseconds and more. That is just one example.

The phone in your pocket and Internet connection is more valuable than anything anyone had before you. Kids born today are wealthier in terms of information and connectivity than just about anyone else in history.

Anyways, that's the quick post.

I remain bullish in terms of general sentiment and outlook. However, one thing I did not get to is the technicals. I do think the market needs to rest a little. It needs to go sideways. Nothing goes up forever.