S&P 500 Smart Money Sentiment 9/12/19 – Is The Silver Breakout A Fakeout???
The Commitments of Traders (COT) is a weekly market report issued by the Commodity Futures Trading Commission (CFTC) listing the positions held by commercial traders and the “Smart Money”, the hedge funds and bank institutions in various futures markets in the United States. Since the COT measures the net long and short positions held by speculative traders and commercial traders, it is a great resource to gauge sentiment in the Markets.
Since breaking out of the long term down trendline in July, Silver has climbed more than 30%. However, last week, Silver formed an inverted hammer candle on the weekly chart. A hanging man is a bearish reversal candlestick pattern that occurs after a price advance and hints at the reversal of an uptrend.
So is Silver’s breakout a fakeout?
Well, for the Silver Bulls out there, what we see is as price is increasing, so is the open interests, meaning the Smart Money is buying long futures contracts.
The buying frenzy is also being supported by the bullish sentiment, which has increased from 10% in June to almost 70% today.
But the raw data to put the Silver Bulls at ease. There was selling back in May, but since then, the Smart Money net positions continue to increase. Thus, the Smart Money has confirmed, this isn’t a fakeout, but a pullback before the continuation higher.
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.
A House of Commons committee has advised that loot boxes should be regulatedas gamblingand banned for children.
The recommendation features as part of the DCMSreport on immersive and addictive technologies and states that games featuring loot boxes that are paid for with real money (as opposed to earned as in-game rewards) should be marked as containing gambling and age-rated accordingly.
The report also touched on the concerning rise of deepfake videos, urging the government to include them as part of the duty of care principles for social media firms laid out in the online harms white paper.
Analysis and Comments
The most obviously impacted franchise would be EA’s FIFA, as Ultimate Team would presumably be captured by this proposal.
While not a helpful line for the broader industry, the regulatory overhang regarding loot boxes is not really news. Loot boxes are already banned in Belgium, which has resulted in several games being pulled from the market (as the only alternative would have been to obtain a gambling license).
In this case, the effectiveness of the measures will presumably be determined by their enforcement, as the rules could be easily flouted if parents or other adults allow their bank details to be used for under 18 year olds to purchase these type of features.
The country’s gaming trade body (UK Interactive Entertainment) said they would review the recommendations and “consult with the industry on how we demonstrate further our commitment to player safety – especially concerning minors and vulnerable people”. The government said it “will consider the committee’s report carefully before responding”.
After entering a deal in April 2018, Activision Blizzard and Nielsen have now released viewership figures (average-minute-audience) on the Overwatch League (OWL) for the first time.
The data compares digital streams last year vs. digital streams and linear broadcast this year, showing that the OWL averaged 313k viewers globally and 95k in the US, an annual increase of 18% and 34% increase, respectively.
Notably, the median age of OWL is 24, which according to Nielsen data is far younger than the other leagues (NFL, NBA, MLB, NHL, MLS, the PGA Tour, and college football and basketball) which underscores the reach/impact esports have with younger demographics.
Analysis and Comments
The viewership figures are the most important metric when assessing an esport’s success; however, because companies and the media often provide different types of viewership figures with poor context, it is often unclear what thesenumbers actually mean.
As a result, streaming viewership is still often difficult to compare with traditional TV ratings, and previous attempts to do so have inflated the success of esports in problematic ways.
Activision Blizzard’s partnership with Nielsen is a big step in the right direction in establishing more usable and consistent metrics that will help better inform investors’ decisions (and will give them more confidence in the data).
Nielsen has been steadily growing its presence in the space and signed a deal with Riot Games earlier this year to measure League of Legends’ esports viewership – something we view as an exciting development as League is the world’s largest esport and has recently started introducing the franchise model to its national leagues as well.
September 12, 2019(updated September 12, 2019) Published by shaunmza
Here are the two mutts, in front the attention hogging Roxy and hiding almost out of view Chilli. Both are rescue dogs and complete characters in their own right.
Free as in more space
We are fortunate enough to have a sizeable back yard with tons of space for the dogs to run around, unfortunately the fence needs repairs and whole gaps filled in some places. Because of this we cannot let the dogs roam free there without supervision as they would both get out eventually.
We live right next to a road, where people do unfortunately not obey the speed limits meaning we could have a tragedy on our hands if the dogs got into the road.
I have run through a multitude of possibilities for making the back yard more accessible. Right now we walk out the gate by our houses entrance, then walk on the road next to the house, gaining access to the back yard by going through another set of gates on the left side of the house. This means when our kids want to go play they also have to walk next to the road, it’s really not ideal.
My wife and I agreed it would be better to have a gate at the back, so that for now we could keep the dogs out, until we fix the fencing, while giving us all easier and safer access to the yard.
Two becomes one
I am a big fan of using what you have, we did price up ready made gates and the cost of buying new posts etc. but baulked at the prices. We need to make sure we can put the gates up without having the dogs run loose.
I managed to figure a way to move the gates around in such a way that we could keep the dogs in place and have the minimal time frame where they could make a break for it.
On the side of our house we have these two gates, my plan was to remove one, then move it around to the back of the house.
By the time I took this photo I was already part way into the process, the right hand gate was mounted on the post you see between the gates. I took the gate off, mounted a strip of woo against the wall and then screwed the gates hinges to that.
The post was moved to the middle, you will see why soon.
These gates are home made and quite loose and weak. A section of fencing is sandwiched between strips of wood, quite a neat idea actually, I will be using some left over wood from another part of the house to give these a bit of rigidity. Fortunately we live in an area where the crime rate is low, so these gates are meant to keep out wild pigs, foxes and keep our dogs in.
Re-use, recycle! Even the strip of wood against the wall is repurposed junk. This happens to be part of a door frame that had been left outside to rot. I cut it in half and use one piece here, the other would be for the back.
More trash being repurposed. This time a bit of fence will be used as a …
I lay it down in the road and stood on it a few times to get it straighter. I did not take photo’s but one side was attached to the wall on the left of the photo, using wall plugs and screws with the washers used on roofing, these have a metal washer and a rubber washer in one. They seem to keep a good hold on the wire of the fence.
The other side of fixed to the wooden post, using screws with the same roofing washers.
Meanwhile ’round back
Please excuse the state of the back yard, between the internal renovations and taking on 2 extra projects after hours I have managed to completely neglect my yard 🙁
Here you can see the second gate as I was planning where to put it. The bits of wood on the right are what I have managed to pull off of out terrace roof so far. The thin strips will be used to strengthen these gates up a bit.
I mounted the length of wood on the wall by drilling holes through the wood, the drilled the top most hole in the wall.
After inserting the wall plug and turning a screw into it, I used the handle of my hammer to try and get the bottom of the wood at an equal distance from the edge of the wall to the top. I used a small diameter drill bit in the drilling maching to mark on the wall the position of the other two holes.
Then I move the wood out of the way and drilled the other two holes.
Heres one of the wall plus and its corresponding hole in the wood.
All the screws are in, oddly it looks very skew in this photo. Maybe it’s the angle it’s taken at?
Keep me posted…
You may have noticed from an earlier photo that this gate was also mounted to a post. Well same as the front, I decided to reuse that post so that I can latch the gate onto something, and to attach the fence to.
Fortunately (unfortunately?!?) , we have a french drain right next to the house so I was able to reuse the base that the wooden post goes into as well. I simple cleaned up a spot (it really needs some cleaning…) and drilled small holes in each of the corners where the holes in the base are.
I then proceeded to drill those holes out to the correct size and installed rawl bolts. I need 4, but only have 2. It seems even when I buy a box of screws / bolts I run out some how 🙁
I mounted the base nonetheless, as it will be easy to remove to install the missing two.
Above is a photo with the wooden pole dropped in loosely. I will fix this in place when the base is secured.
At that point I will be able to remove the fence from the pole in the background and bring it around to meet this post. Then we will super easy (and safe) access to out back yard! But first I need to go to town to buy supplies.
And so out day ends
It was time to head inside and have dinner, so my son and I packed up, but I could not resist taking a shot of the gate. The work is not all done yet, but we need to stand back and appreciate not wasting money sometimes.
All I have purchased for this so far were a few screws, washers and rawl bolts. Everything else was repurposed.
Yes new gates would have looked nicer, but at what cost? Sometimes having something look nice is about more than just the financial side. I deplore buying stuff to replace other stuff, so am happy with the compromises I made here.
The largest crypto exchange by volume is making its U.S. debut next week.
Binance.US said today that the platform will open registration and deposits on September 18. According to a company blog posting, the launch will initiate a rollout of multiple Binance products across the U.S.
After registration, six cryptocurrencies will be available for deposits including bitcoin, ethereum, XRP, bitcoin cash, litecoin, and tether.
Trading will commence later at an undisclosed date.
Based out of San Francisco, Binance.US was announced earlier this year. Residing officially in Malta, Binance has physical locations in Jersey, Singapore, Hong Kong, and Uganda.
Join us live from the show floor at Invest: Asia, our premier crypto global investment event.
For the next two days we’ll be talking to folks like Jocelyn Chang of MakerDAO, Jeremy Allaire of Circle, and Benjamin Soong of Ledger. You’ll be able to chat with us on YouTube, ask questions and interact with our guests as we explore the booming Asian markets.
Joseph Lubin, co-founder of ethereum, is to join the governing board of the Linux Foundation-led blockchain consortium Hyperledger.
The move comes as ConsenSys, the ethereum development startup founded by Lubin, becomes the latest Hyperledger premier member, ConsenSys announced on Wednesday.
ConsenSys said it will work as part of the group to explore interoperability between blockchains, as well as to promote standards to support “enterprise-grade blockchain environments.”
ConsenSys’ PegaSys protocol engineering group recently submitted its ethereum client, formerly known as Pantheon, to the group as the Hyperledger Besu project. Besu, aimed to provide a platform for “open development and deployment,” marks the first public blockchain-compatible submission to Hyperledger, the firm said.
According to Lubin: “PegaSys and ConsenSys have been committed to open source software and submitting Hyperledger Besu to Hyperledger demonstrates that commitment. Public networks with tens of thousands of nodes are most appropriate in a world in which we will see the tokenization of many types of assets and resources.”
Bank of New York Mellon has been appointed to serve as transfer agent and administrator of Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF).
Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC) on Sept. 11. The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent.
Whether any of the aforementioned firms will act in their appointed regard depends on an eventual decision to allow the listing by U.S. financial regulators.
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STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Little bit earlier in the day, we almost tested the low around 0.155$. It was expected and predicted in my previous post so no drama. I think we could stay upper than this support line but we need to be carefull about the BTC because if the 10k$ is broken, we could see a new acceleration in the drop. and it will be the same on the STEEM.
In Elliott Wave terms, MAN began a wave one advance on August 10. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 24, and the red wave two (blue sub-waves a-b-c) correction ended on September 7. If this wave count is correct, MAN should be heading next towards the August 24 peak in the red wave three.