Quick Update
The trading boards are a solid green (we don’t count rigged and subsidized Nat Gas) today as euphoria continues as the US dollar continues its slide and its RISK ON! Bitcoin the big winner today +4.41%, Bitcoin doesn’t need an excuse to move higher, we suspect it will continue in this fashion as we get closer to the halving in 2024 as well as the Blackrock ETF approval. Also Nasdaq and Nikkei up big on the day as well with US Fixed Income bull steepening again:
As far as the Nasdaq, the concentration of wealth continues in the MEGA8s, we know a revaluing is coming, a reweighting to the index but for now, seems like 16k is the logical target and major overall Nasdaq technical high to low 0.786 Fib area:
The Nasdaq is firmly in bull control and a move under 15190 would be the first sign of a breakdown, but for now, RIP bears!
