For months we’ve been warning about the coming inflation problem, wondering when the bond market would notice and/or care. The immediate problem in a nutshell: One of the most highly correlated components of CPI with the headline rate is the price of energy, and gasoline in particular. If prices were to remain where they are … continue reading →
Tag Archives: bitcoin
Thinking of the late great Chick Corea this morning as I survey the sky-high equities market… Futures have regained about half their overnight losses, spurred by a timely dip in VIX and pop in 10Y yields (testing Monday’s highs.) continued for members… … continue reading →
Futures are off modestly as the algos have backed off their assorted breakouts and breakdowns now that the bearish H&S Pattern has been busted.continued for members… … continue reading →
See if you can spot the point at which TSLA disclosed its purchase of $1.5 billion in BTC. Yes, in a world where seemingly everything is making new highs, BTC joins the party – courtesy of Elon Musk. continued for members… … continue reading →
Quick note: BTC backtested the top of the broken pink channel as detailed in our Jan 7 post [see: Jan 7 Update on BTC.] continued for members… … continue reading →
It seems like just yesterday BTC reached our last upside target range at 29,890-30,108. Actually, it was Monday [see: Jan 4 Update on Bitcoin.] If it can hold these Fibs, the next major Fib target to the upside is the blue 2.24 and red 3.618 at 40,180-40,138. Go figure. continued for members… … continue reading →
BTC reached our next upside target at 29,890-30,108 [see: Dec 22 Update on BTC.] Had it remained in either the rising pink or purple channel, it might have taken quite some time. But, as we discussed last month, it broke out of both channels and topped the Fib target at almost exactly the time forecast … continue reading →
In our last regular update on BTC [see: Nov 17 Update], we noted that it had reached our Inverted Head and Shoulders target of 17,150 well ahead of schedule and was due to test the .886 Fib at 17,780. Note that the red IH&S target at 17,150 is only slightly below the blue .886 Fib … continue reading →
Almost 8 months ago I posted our first outlook on BTC [see: FOMC Embraces MMT.] We noted at the time that the FOMC was “officially in the short-squeeze business” after ES came within 19 points (trading was halted there) of our 2155 target and the Dow was set to test the Nov 8, 2016 (election … continue reading →
I’ve only posted about BTC once before, back on Mar 23 in response to a member request [see: FOMC Embraces MMT.] The Dow was about to test its 2016 election day lows and, not coincidentally, the Fed had just unleashed QEinfinity. The post went as follows: Two major chart patterns jump out at me: first, … continue reading →