Apr 18, 2022 • 3M

Market Thoughts - 04/17/2022

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Nick Conn
Bringing you insight on technology, crypto, and stock market investments.
Episode details

Hello Investors,

It’s been a while.

I wanted to shoot you a little update on some market trends and news that caught my eye. Keep in mind these are subject to change every day. The financial markets are very over-reactive. Any slight news can destroy the thoughts here.

Market Recap

The stock market ended lower last week, which is to be expected on a long weekend. Good Friday was a holiday, and we almost always see people taking profits before a long weekend. Besides the long weekend, bond yields resumed their climb, which didn’t help the sell off.

It seems like Wall Street investors still have fear around economic data, geopolitical events, and mixed earnings.

Mixed earnings with roaring inflation is not a good recipe.

As of this writing, futures are bloody with VIX up 3%.

Week Ahead

James Bullard, of the Federal Reserve Bank, will be speaking on the U.S. economy this week.

Bank of America is also expected to announce earnings this week. What does this mean for the outlook of the economy? We should be looking for signs of consumer spending and borrowing. Investors should also be watching how the impact of rate hikes are affecting banks.

Expect to see the state unemployment jobless claims to be released on Thursday morning as well. This usually has an effect on the market.

Earnings this week:

Netflix - Tuesday after market close.

P&G - Wednesday.

Tesla - Wednesday after market close.

AT&T - Thursday.

Snapchat - Thursday.

Verizon - Friday.

Crypto Recap

While we were gone, crypto had a good pump to the upside for around a month. For the past two weeks we have been cooling off a bit.

On high time frames, I am still very bullish. The MACD is crossing and the TTM Squeeze still shows momentum left to the upside on the Weekly Bitcoin chart.

Will Clemente, Lead Insights Analyst at Blockware, posted some on chain analytics that highlighted some interesting data. It looks like whales (whales = more than 1,000 bitcoin in their wallet) are accumulating at these levels.

I still am DCAing into Bitcoin and Ethereum. All while actively managing and trading alt coins. I still like layer 1’s the best. Especially $LUNA, with this big news that their stablecoin, $UST, is now planning to be backed by Bitcoin.

Have a good week and let’s make some money. Keep stacking.

Latest News

Musk makes $43 billion offer for Twitter to build 'arena for free speech'. Read More

Powell May Be About to Seal Deal on a Half-Point Hike: Eco Week. Read More

Bitcoin holds $40K over Easter but thin liquidity, 'capitulation' risk haunt traders. Read More

Attacker Drains $182M From Beanstalk Stablecoin Protocol. Read More


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