Happening on the major indexes and big tech as well. also observed on bitcoin and many other asset bubbles like the 2000 tech bubble. Seeing this pattern a lot lately, wouldn't be surprised to see it here.
Good short term scalp that will fool many into thinking there will be another impulse wave. Then dump
Time to start closing positions and buying out put options. This is a classic top formation for thee tech bubble 2.0.
For those who missed the big bitcoin short, here is another one.
Everywhere you look stocks are tanking. when the big tech 5 start dropping it will wreak havoc on the indexes.
Altcoins are now in a bear market.
Like small cap stocks when looking at the stock market, altcoins offer a perspective of what is to come for BTC price action. Expect big losses in BTC within 1 to 2 months
Finally all the recession posts of mine a starting to have a reason. cannabis/index shorts and VIX fully loaded into this downturn. The profits are already stunning.
Beware of further stock fallout as investors run for cover in this fake market
Watch out for more volatility.
US bond auction today was terrible and 10-year bond demand was so low some bills were offed with a yield of 2.66%. In perspective, the current yield for 10-year bonds is 2.16%. And this despite FED with clear intent to cut rates. Bonds should be rocketing right now due to the rate cut. The market is currently backwards: bond...
Fundamentals are dodgy but to be expected from such a new venture company. Risky given global market circumstances but water is non-cyclical and could weather the next recession relatively well. that being said short term technicals point to strong reversal here