Market Thoughts - 12/26/2021
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.
Friday, we saw markets push higher after investor worries about the omicron variant fizzled. Everything rallied except for defensive stocks. SPY closed at an all time high today, which is very bullish news.
As of this writing, futures are green for most.
What a wild week for SPY.
If you remember in our Market Thoughts last week, we talked about watching to see if SPY could breakthrough the 463.91 level. We first had to test the previous key level at 453.04. We had a bullish bounce, then gapped up and had 3 daily candles close in green.
Do we see SPY run to ATH’s Monday? Let’s set alerts at ATH’s and react.
We will say it again here, Bitcoin follows SPY very closely- then alts follow Bitcoin very closely.
Bitcoin is still under the old downtrend yellow line, but we have shown some signs of life. This was around the same time as last year, where crypto started picking back up and we saw absurd prices in the late winter/early spring. Let’s watch and see if this happens again.
Bitcoin is sitting right on the 200EMA on the Daily. Honestly it’s a pretty good place to accumulate if you haven’t been.
MATIC ripped to all time highs this week on bullish news that Uniswap added the Polygon network. This will change the game for swapping on Polygon Layer 2.
LUNA has just been straight ripping for the entire correct. UST is the stablecoin on LUNA, which has some incredible APY’S with Anchor Protocol. It makes me think that a lot of people were going into Anchor stablecoins and LUNA was seeing big volume. Make no mistake- LUNA has very bright future ahead.
First Mover Asia: Bitcoin’s Price Remains Boxed In Below $51K Over Holiday Weekend. Read More
What Jack Dorsey’s Beef With ‘Web 3′ Is Really About. Read More
DeFi Value on Terra Surges to Record $21B as LUNA Tops $100. Read More
Asian Stocks Mixed After U.S. Rally to Record High: Markets Wrap. Read More
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Nothing in this email is intended to be financial advice. Always do your own research.