The Dow Jones Industrial
Average, S&P 500 and Nasdaq Composite keep making new all-time highs. So do you still believe in this Bull
Market??? If you do, well…you should because
we still are making higher highs vs. lower lows. But I want to give you some
food for thought to be careful.
Consumer discretionary to technology, cyclical stocks that typically associated with bull markets while in down turns or bear markets, consumer staples typically outperform. However, both consumer discretionary and consumer staples sector are at all time highs…TOGETHER…HOW CAN THIS BE???
With the US equity markets, consumer staples and consumer discretionary all all-time highs, something has to give because based on intermarket correlations, this doesn’t make any sense. This is when one has to dig a bit deeper.
The consumer discretionary sector has consistently lagged the consumer staples sector ever since last year.
For the bull market to continue to run, the discretionary sector must eventually outrun the staples or at some point we will see the equity markets start making lower highs, then lower lows.
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.
….and it would indicate something good for the price if STEEM wouldn’t have so much selling pressure from the wales and from @steemit in particular.
A double Bottom pattern is a Bullish Pattern that usually describes a change in trend and a momentum reversal from prior leading price action. It is normally accompanied for a divergence in some of the technical indicators and this is what we see at RSI indicator on the daily chart:
RSI Indicator:
MACD Indicator:
… as I said, if it was any other ALTCOIN I would not have any doubt to claim BULLISH Action on it but we are talking about STEEM which is being really controlled from those that state that STEEM is a decentralized blockchain….
Will see what happens next…in the meantime, I would try to accumulate as much as possible.
Bulls are still defending $10,000, but bears are attempting to land a knockout punch. Price dropped from $10,500 to $10,150 in less than 20 mins. Just another day in the crypto market.
In today’s video I’ll analyze Bitcoin, Litecoin and Ethereum. We’ll discuss the 4 hour death cross, where prices may be heading next, traps to avoid and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin. Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin.
When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.
Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.
Binance
EOS
Ethereum
Litecoin
Neo
Steem
Tron
Zcash
Based on the moving averages and the last daily closing price, relative to the moving averages,
the altcoins relative strength, relative to Bitcoin are the following:
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.
Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets or asset classes, such as stocks, bonds and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.
The US economy is still the largest in the world and the US dollar is still the most powerful currency in the world. Over half of all foreign currency reserves in the world are in US dollars. Thus, the asset classes relative strength will be compared to the US Dollar.
Bitcoin
30 Yr Bond
Copper
Euro Dollar
Gold
Oil
Soybeans
S&P 500
Based on the moving averages and the last daily closing price, relative to the moving averages,
the asset classes’ relative strength, relative to the US Dollar are the following:
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.
I have been blogging since early 2018, not what I would consider to be “long” in blogging terms, but long enough to have become a part of the furniture. During that time I have seen big changes in the crypto blogging space: some rapid, some more sedate.
One of the sedate ones has now become too obvious to ignore: it’s too quiet in here…
How often do you make new followers on blogging platforms these days? It still happens, but it’s not nearly as frequent as it was a year ago, is it? How many comments do you get on each blog post?
Despite the best efforts of many bloggers who frequently leave comments and engage wherever they can (thank you guys – I really appreciate the efforts you make – both on my posts and on the posts of other bloggers), the numbers are still way off what they once were. If I look at Steemit, the platform I started blogging (and still use to this day), I now so rarely get comments that I don’t even check my replies daily anymore! At one stage I would check replies several times a day.
There is also a notable drop in post earnings: my own account has been hard hit – though granted – some of that has to do with the price of the tokens one earns. Even so: token price is a reflection of interest in the token, and interest in STEEM is disturbingly low! I had hoped to be able to earn a living from blogging, though if this carries on I can see that I shall have to make other plans. Even some of the top Steemit bloggers are earning pathetically little compared to what they once did, a clear sign that interaction is shrinking dramatically.
It’s not just Steemit that has been hit, Trybe is visibly empty too. Here, take a look at the bottom of “page 1” of my Trybe friends list. I like to use this list to see who has been online lately. I normally select each member who has been online since I last visited, check their blog and then comment on their new posts. But so many of them have just not been online lately…
From https://old.trybe.one/members/bitbrain/friends/
It’s hard to engage with friends who are not there! Imagine what pages 2 and 3 look like! I miss the regular posts of some very good bloggers who used to post frequently. Some of my Steemit friends haven’t been seen in nearly a year!
Don’t get me wrong: I’m not blaming anybody for anything here: neither the platforms nor the bloggers. I fully understand that it takes time to generate and curate good content. (I hate the system-gaming heajin-style copy-&-paste posts which have little to no effort put into them) Time IS money, and not all of us can afford to spend several hours a day on crypto social media platforms – especially when payouts are poor. It isn’t all about the money, but it does become “not economically viable” at some point.
I sense a form of despondency among my fellow crypto bloggers, and that is to be expected. The altcoin market remains nightmarish in many respects, that is having a clear effect in the platforms based on those coins. I think that STEEM and the STEEM-based platforms are suffering from that particularly hard: Dan Larimer’s middle-child is playing the role of classic neglected middle-child to a T.
Personally I have already sold off quite a lot of my STEEM, and have suggested that others may want to follow suit. I know that many other STEEM holders have already sold off a significant portion of their holdings.
However…
I won’t be selling of all of my STEEM, and when I do sell it, it’s to buy other altcoins – not to cash out to fiat!
I am well aware that altcoins are not popular right now. I have seen the BTC value of my altcoin portfolio plunge during the last few months. Bitcoin maximalists are everywhere, I don’t recall ever seeing anti-altcoin sentiment this high before (probably because the majority of altcoins have not been around for long enough).
I am NOT a supporter of the saying “The trend is your friend”. Instead I consider the trend to be a wolf in sheep’s clothing, somebody who leads you along the path, and then once you become complacent, stabs you in the back with a sharp trend reversal. As a Value Investor and a Contrarian, my default instinct is to oppose the trend. But what does that mean in real terms?
There is blood on the streets. The altcoins are bleeding.
We ALL know: “Buy Low, Sell High”. Yet when the price of something is low, what do we do? We panic sell. When price surges high, what do we do? We FOMO buy.
Hear the wisdom of Bit Brain: NOW is the time to BUY altcoins!
I believe that this is a golden opportunity. Bitcoin can’t keep climbing alone – it makes no economic sense! I saw a Tweet this morning which said that the Bitcoin Whitepaper is the only one worth reading. Nothing could be further from the truth. There are MANY good altcoins out there with a solid token economics model. They will make money, irrespective of what BTC does. I agree that BTC is the only real store-of-value crypto, but it is not the only crypto that has value! I still expect good altcoins to thrash BTC in terms of ROI over the next year or two.
Mark my words, sentiment towards altcoins WILL swing around again, and when it does, make sure that you are holding some good ones!
And this is why I’m keeping some STEEM. This is why I am slowly letting my TRYBE tokens grow in number. It’s just like mining BTC: too often miners shut down when it becomes “unprofitable” to mine. But what if they just kept on mining – took the short-term loss – and then sold that BTC when the market recovered? They would make a fortune in profits, especially because mining difficulty drops when miners pull out.
If TRYBE ever “Moons” by 100x and becomes worth $0.10 per token, then you can’t expect to still earn 1000 TRYBE for each post that you write! BUT YOU CAN EARN THAT TODAY!
So I suggest holding onto that which you can accumulate now, because markets ARE cyclic – often unpredictable, but cyclic nonetheless. I suggest that you keep on blogging, keep on curating, keep on supporting one another. We ALL know that crypto is still in it’s early days and that a lot of money will still enter this asset class. When it does so, it would be good if we could have our platforms ready to receive the influx of new interest, interest which would greatly boost the value of our tokens again.
So take heart, don’t feel down just because your altcoins are worth nothing. Don’t give up just because your earnings are very low. I am literally betting the future of my financial success on crypto – and honestly – I’m not too worried about it. For me it’s more a “when?” than an “if”. (No: don’t follow my example, I didn’t really have a choice due to a rather unique set of circumstances. Don’t put more into crypto than what you can afford to lose!)
Hang in there crypto friends, the altcoins will make a comeback. You’ll see.
“It’s always darkest before the dawn.”
Yours in crypto
Bit Brain
“The secret to success: find out where people are going and get there first”
~ Mark Twain
“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
In Elliott Wave terms, Dusk began a wave one advance on July 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 17, and the red wave two (blue sub-waves a-b-c) correction ended on July 19. If this wave count is correct, Dusk should be heading next towards the July 17 peak in the red wave three.
Dusk streamlines the issuance of digital securities and automates trading compliance with the world’s first programmable and confidential securities. Crypto Beadles interviewed the co-founder earlier this month.
The Standard & Poor’s 500 Index (known commonly as the S&P 500) is an index with 500 of the top companies in the U.S. Stocks. Because the S&P 500 Index represents approximately 80% of the total value of the U.S. stock market, it’s the bellwether index for the U.S. stock market. In addition, the U.S. stock market is the largest stock market in the world, it’s also the bellweather for equity markets around the world. The S&P 500 is arguably the most important stock market index on the planet.
Because we live in a global economy, the global equity markets interconnected and highly correlated. However, some will outperformance other in the short term and long term. When constructing an equity portfolio, for the best returns one needs to have the ability and the capacity to assess all the major equity markets around to asset allocation purposes. However, the first step is to determine the relative strength of the major equity markets, relative to the bellweather, the S&P 500.
DAX (Germany)
Dow Jones (US)
FTSE 100 (England)
Nasdaq (US)
Nifty 50 (India)
Nikkei 225 (Japan)
Shanghai (China)
Russell 2000 (US)
Based on the moving averages and the last daily closing price, relative to the moving averages,
the world equity markets’ relative strength, relative to the S&P 500 are the following:
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.
Sector rotation is the action of shifting investment assets from one sector to another to take advantage of cyclical trends in the overall economy in an attempt to beat the market. Sector rotation seeks to capitalize on the theory that not all sectors of the economy perform well at the same time because sectors of the stock market perform differently during the phases of the economic and market cycle.
For example, defensive sectors such as consumer staples, utility and health care stocks tend to outperform during a recessionary phase, while consumer discretionary and tech stocks tend to fare well during early expansions.
When you trade, you want the strongest stocks in the strongest sectors, which is why you should monitor sector performance carefully. With that said, lets determine the relative strength of the sectors relative to the S&P 500 ETF, SPY for the upcoming week.
Communication Services (XLC)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Energy (XLE)
Financials (XLF)
Health Care (XLV)
Industrials (XLI)
Materials (XLB)
Real Estate (XLRE)
Technology (XLK)
Utilities (XLU)
Based on the moving averages and the last daily closing price, relative to the moving averages,
the SPDR sectors’ relative strength, relative to the SPY are the following:
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.
Past few days saw crypto bounce after the hard sell-off. Ethereum really didn’t bounce as much as BTC and LTC and finds itself at an inflection point.
Resistance Levels and Moving Averages
Looking at the daily chart you can see price rallied and met the 10 period moving average to work off some of the extremely oversold status it was in.
This level also happens to be a prior support, right around 230. As we know once a support level is broken then it tends to act as resistance.
Thus, for price to go higher we need to see a push through this level and above the moving average. Generally this happens when there is a volume buying breakout.
I don’t know if the crypto market has this in the plans after the relief rally.
Bitcoin is looking a bit healthy and as if it could leg up again, while litecoin does have a nice V-bottom pattern going on, but also is just bouncing from the breakdown of a head and shoulders pattern.
It will be interesting to see how those coins play out as well because as we know. If those aren’t pushing higher its’ not likely ETH will either.
