Where Is The Dax Headed Next??? – Part 2

I talked about the DAX most recently, three weeks ago,

Where Is The Dax Headed Next???

The DAX is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange.  And Germany, the biggest economy in Europe is stalling.   Germany is an export country and so they have been hit hard by the trade tariff between China and the US and the all the uncertainty surrounding Brexit.

You put all these issues in a pot and the finish product is an inevitable recession.  An inevitable recession was further supported by the recent ZEW Survey.  ZEW Indicator of Economic Sentiment is a leading indicator for the German economy. The recent ZEW Survey showed sentiment among investors fell to -44.1 from -24.5 in July, its lowest since Dec. 2011.

Germany Is Flirting With Recession After Investor Confidence Falls

Source

Since price broke the 12200 level and formed a “M” pattern, also known as a reversal pattern,

I’m not sure if price will get back to the 12220 level for a short,

so lets see if price to push to the downside and pull back for a short.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Ag Analysis Report – 8/14/19…Yep, Corn Prices Went A Lot Lower

This past weekend I talked about how the latest AccuWeather 2019 crop production analysis predicts a significant decline from last year’s corn and soybean yield.  And how this past Monday, the fate of many farmers would be decided by the World Agricultural Supply and Demand Estimates (WASDE) is a monthly report that forecast supply and demand for major crops (global and United States) and livestock (U.S. only).  But this was another example of why I don’t really care about reports, news or Trump twits because price action trumps everything and the chart suggested corn prices were going to decline. 

Ag Analysis Report – 8/9/19…Is Corn Prices Going Lower???

The Agriculture Department on Monday said farmers planted a bigger corn area than analysts estimated and pegged crop yields that also exceeded expectations, sparking the biggest rout in futures since 2013. That was a blow to growers who were holding back supplies, hoping a rally that started in May due to delayed sowing would extend through the fall.

“This is a huge disappointment for farmers that have already been struggling with a lot of uncertainty with this corn crop, trade wars and what have you,” said Tanner Ehmke, manager of the research team at CoBank, a $138 billion lender to the agriculture industry. “A lot of people were banking on the opportunity to sell at much higher prices. This report now really brings that into question.”

Source

DDRUUUMM RROOLLLLLLL

I do feel story for all the farmers in the Midwest as they have just been reduced to pawns, as Trump continues to play chess with China.  And like the big Ag companies, I would love to teach those farmers how to hedge their crops with futures so they can protect themselves win, lose or draw.

If there was one message I could send the farmers, it would be the chart suggests price will retest the weekly demand at $356.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Bitcoin Draws Premium in Argentina and Hong Kong Amid Sell-Off

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Interesting article from Bloomberg showing that people/investors are willing to pay a premium when the geopolitical or monetary situation in their respective countries is worsening.

This is the ultimate sign that Bitcoin is a hedge against risks. Government & Currency Wise.

Here are some extracts of this article.

In Argentina, where the peso plunged on election uncertainty, Bitcoin was recently trading for as much as $12,000 on LocalBitcoins.com, a peer-to-peer platform, or 10% higher than on many international crypto exchanges. The token was trading at about a 4% premium in Hong Kong, where continued anti-government protests are raising fears of retaliation.

  • “Bitcoin is becoming the asset of last resort in areas of extreme currency devaluation and political uncertainty,” said Rayne Steinberg, chief executive officer at Los Angeles-based crypto hedge fund Arca. *
  • “In the last week alone, Bitcoin is up approximately 50% against the Argentine peso and trading at a significant premium on local exchanges. And they are not alone, joining the ranks of Venezuela, Hong Kong and Turkey who have also experienced similar shocks.”

The premiums would seem to support the argument that Bitcoin is a means of protecting assets from plunges in local currencies and authoritarianism. Even so, the cryptocurrency has tumbled about 8% to around $10,890 this week, increasing the risk for investors in troubled nations of moving from one volatile asset to another.

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In the past month many advocates have been pointing to the increased negative correlation with U.S. equities as proof that investors were turning to Bitcoin as a haven. That narrative proved to unravel this week as the inverse relationship broke down.

And you, What would you do if you were in Argentina or Hong-Kong at this very moment?

🗞 Daily Crypto News, August, 14th💰

  • Cardano Founder Charles Hoskinson Announces Upcoming Release of v1.6 ;
  • Barclays Is No Longer Banking Coinbase ;
  • SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security ;
  • Dallas Mavericks Become Second NBA Team to Accept Bitcoin ;
  • European blockchain company Bitfury launches artificial intelligence unit ;
  • 📑 Daily Crypto Calendar, August, 14th💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Cardano Founder Charles Hoskinson Announces Upcoming Release of v1.6

Charles Hoskinson, a co-founder of the Ethereum Network and current CEO of IOHK, has announced that IOHK-created project Cardano is rolling out version 1.6 within a few days’ time.


Hoskinson teased the upcoming launch in a Twitter post on Aug. 13. Hoskinson also asked users to send screenshots and comments on the latest version of Daedalus, which is an open source cryptocurrency wallet also backed by IOHK.


As per IOHK’s website, Cardano is a blockchain platform that uses the proof of stake algorithm Ouroboros. Its native cryptocurrency, ADA, is based on the functional programming language Haskell. Daedalus, for its part, is the only cryptocurrency wallet that supports ADA. Additionally, the website states that Daedalus can also be used as a wallet manager to organize and provide backup for other wallets and their assets.

A new project for Hoskinson


As previously reported by Cointelegraph, Hoskinson announced during the blockchain conference Consensus 2019 that he would be working on a new project with the security token platform Polymath. The project is called Polymesh, and is reportedly an attempt to create a blockchain for tokens centered on meeting regulatory requirements.

In the announcement, Hoskinson said:
“After co-founding Ethereum and Cardano, two of the most widely used blockchains in the world, I am looking forward to working on Polymesh. There are quadrillions of dollars of financial securities, and building a blockchain to secure them is an incredibly exciting task.”

🗞 Barclays Is No Longer Banking Coinbase

The most prestigious banking relationship in crypto has ended.


Barclays, the London-based global bank, is no longer working with cryptocurrency exchange Coinbase, industry sources told CoinDesk. And while Coinbase found a replacement in U.K. upstart ClearBank, according to people familiar with the situation, the change has indirectly inconvenienced the exchange’s users.


That’s because, aside from the cachet of working with a household-name bank, Barclays connected San Francisco-based Coinbase to the U.K. Faster Payments Scheme (FPS), enabling users to instantly withdraw and deposit British pounds at the exchange. The end of the relationship disrupted Coinbase’s access to FPS – which in turn slowed deposits and withdrawals in GBP for U.K. customers, which now take days to process.


The situation is temporary, though, thanks to Coinbase’s new relationship with ClearBank. One of the U.K. “challenger banks” that have sprouted up in recent years to compete with market incumbents, ClearBank is expected to restore Coinbase’s FPS access by the end of the third quarter.


Barclays, ClearBank and Coinbase all declined to comment.

🗞 SEC Guidance Gives Ammo to Lawsuit Claiming XRP Is Unregistered Security

The Takeaway:


A new amended complaint against Ripple draws on the SEC’s framework for digital assets to outline how XRP might be a security – likely the first federal case to do so.


The filing also cites California advertising law, in addition to federal securities law, to argue that investors were misled by Ripple’s promotion of XRP.


While the case is a year old and has not yet received class-action status, the new complaint is the first that Ripple must respond to with a substantive answer.


Ripple has until mid-September to file its response.

🗞 Dallas Mavericks Become Second NBA Team to Accept Bitcoin

The Dallas Mavericks have become the second NBA team to accept Bitcoin (BTC) as a means of payment for match tickets and merchandise.


A tweet from cryptocurrency payment processor BitPay confirmed the news on Aug. 13. 
Mavs’ billionaire owner is a crypto enthusiast


Cryptocurrency adoption has been on the horizon for the Mavs since early last year, when team owner and billionaire tech investor Mark Cuban hinted that fans would soon be able to use Bitcoin to buy tickets to the team’s games.


A year and a half later, Cuban’s plans have materialized and the Mavs join their NBA rivals, The Sacramento Kings, in rolling out cryptocurrency access for their fans. 

🗞 European blockchain company Bitfury launches artificial intelligence unit

European blockchain company The Bitfury Group, valued recently at more than $1 billion, has launched its artificial intelligence (AI) division, the company’s top official told Reuters in an interview.

The AI division will operate alongside Bitfury’s existing blockchain services and remain part of the company.Bitfury is one of a handful of blockchain companies around the world with at least a $1 billion valuation. That list includes Coinbase, a U.S.-based exchange, and China’s Bitmain, the largest cryptocurrency mining firm in the world.


Valery Vavilov, chief executive officer and co-founder of Bitfury, said the need to analyze and extract value from tons of available data drove the company to go into artificial intelligence, that branch of computer science that emphasizes the creation of intelligent machines that act and behave like humans.

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📑 Daily Crypto Calendar, August, 14th💰

“BitMax will enable margin trading for ONE (3X) under the pairs of ONE/USDT, ONE/BTC at 10:00 AM EDT, Aug 14th, 2019.”

Second mainstream merchant, Phone House, joins UTRUST family.

“Our Bank Account Marketplace is going to be released on Wednesday, August 14!”

“If you’re around the Phoenix area, join Chainlink ambassador Cole Gendreau who is hosting a meetup on Wed August 14th at 6PM (MST)!”

“International Conference on Block Chain & Data Science” in Tokyo, Japan from August 14-15.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

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Here is the current chart :

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So yesterday, we have been rejected from the pink mobile line (MMA50). It was already a bad sign for the short trend and it is confirmed today by the drop which is back. We should try to go test the previous low around 0.175$. Let’s see if it will hold us or not.

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Last Updates

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Join this new Free To Play on the STEEM Platform !

Bond Analysis Report 8/14/19 – More Upside To Come On The 30 Yr Bond

The yield for the longest-dated Treasury bond is now a hair’s breadth away from plumbing its lowest level in history.

Investors said the $22 trillion U.S. government debt market was now approaching this key milestone on a combination of factors including the growing world of negative-yielding government bonds, expectations for Fed easing spurred by rising recession concerns, and the absence of inflation pressures.

The 30-year Treasury bond yield TMUBMUSD30Y, +1.26% ended at 2.13% on Monday, following a relentless rally in long-term government bonds in the past few weeks. The 30-year yield is only a few basis points away from its all-time low set in July 2016, when it touched 2.09% after the U.K. voted to leave the European Union.

Source

So what’s the significance of the 30 year bond yield reaching all-time lows? 

Well Interest rates and bond prices are inversely correlated, meaning when one goes up, the other goes down. 

Because a bond’s payout is fixed, as interest rates go up, the existing bond becomes less attractive because people want to buy the new bond that pays more interest.  So to make the existing bond more attractive, the value of that existing bond decreases.

And as the global and US economy continue to slow down, Fed Powell won’t have any choice, but to lower rates again…possible two more times this year.  So I personally expect the 30 year bond to continue to go up in value.

The chart suggests price will move higher to the monthly supply at 174’00.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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