This will come as a surprise to few; there has been a distinct mood shift in markets following last week’s 0.75% rate hike by the Fed. But all anyone seems to want to talk about is 1) Are we in a recession (what’s in a name?) and 2) Is this a sucker’s rally, or does this ‘dead cat’ have legs? (who knows).
While things may feel distinctly less gloomy than they did a month ago (The Fear and Greed Index is now just a few points away from Neutral–imagine that!), very few of the economic challenges that came into stark relief over the last several months have gone away…
With that, we hope you enjoyed, dear Ndaxers, a much-deserved reprieve from markets during your long weekend!
BTC and ETHER Had a Great July
A SECOND Consecutive Quarter of Negative GDP Growth
The FOMC Raises Rates 0.75%: Markets Soar
If you are planning on attending next week’s Futurist Conference…
In a bizarre continuation of the absurdity that has characterized the world over the last 2.5 years; last week was most definitely ‘here for it’. And if past thin-liquidity summer months are any indicators, a lot can happen in markets when most participants are on vacation or at the beach…
Would we be surprised to see the current rally continue to pick up steam? Not in the least. Would we be surprised to see it fizzle, break down, or chop around? Not at all. Are we continuing to take every short-term move with a grain of salt and a pinch of hopium? You bet!
Welcome to August, don’t forget to wear sunscreen!
Bitcoin had been consolidating, trading in a range between C$24,500 and C$29,500…
KEY LEVELS:
Ndax users tirelessly continue to accumulate bitcoin. Half of this week’s transactions on Canada’s favorite Crypto Platform were BUYS.
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