Bing, Google, harry5, Yahoo, Douglas
Listen to Mark S. Young's Interview on MarketView
335 Views · 2 Replies ( Last reply by Data )
THE cryptocurrency market has lost $US206 billion overnight in what traders are describing as a “cryptocalypse”, with bitcoin heading back towards its $US10,000 milestone first reached last November.
But it was smaller currencies including ripple, ethereum and bitcoin cash that were the hardest hit in the latest sell-off, which was sparked by fresh fears of a crackdown on virtual currencies by governments in South Korea and China.
At the time of writing, ripple was down nearly 50 per cent on the previous day, ethereum had lost nearly 34 per cent of its value, bitcoin cash was down nearly 37 per cent and bitcoin was down 27 per cent to just under $US10,200.
From the link:
And it was a fall worth something. On my $10K weekly options model, the intraday sell signal on the in-the-money QQQ 166 put raced up to a peak gain of 167% and finished the day up 127%; the SPY in-the-money 280 put peaked at 94% and finished the day up 51% (see the white flags on the lower right of the charts below).
If there more downside to come?
Over and over again, this bull market has said no and charged ahead after every little downside glitch. It will continue to do so until it doesn’t. After today’s reversal from higher highs, long-term breadth turned negative making all of the sells on my swing signals shorts (see table below). If today turns out to be the time the bull does not charge higher, well then…it will be a bull that dies with a whimper instead of a snort.
For more and the charts:
354 Views · 4 Replies ( Last reply by diogenes227 )
The daily VIX trend has been up since the start of 2018 even as SP500 zoomed ahead
Even at the DOW and S&P highs today, the VIX was still up on the day, at SP Futures 2808 and DOW up by 280 points
284 Views · 3 Replies ( Last reply by da_cheif )
The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.
Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.
Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.