Tuesday, November 22, 2022

Things are breaking beneath the surface

Mid-week market update: I thought that I would publish an early mid-week market update in light of the shortened US Thanksgiving trading week. As the S&P 500 consolidates in a narrow range between 3900 and 4000, things are breaking beneath the surface.

Let's begin the analysis at the extreme risk part of the market. As the crypto world teeters, Bitcoin is weakening, Coinbase shares (COIN) have broken support, and the Bitcoin to Greyscale Bitcoin Trust (GBTC) ratio erode, indicating a widening NAV discount.

The full post can be found here.

No comments: