So it was just a textbook squeeze?
The short-term trendline and the 21-day MA sit slightly higher, alongside the former range lows, now acting as resistance. As there is no TACO yet and looking at futures this morning, does not seem we will go through resistance today. Source: TME
In case you missed it... The US job market continues to deteriorate
Job openings fell -358,000 in February to 6.88 million, giving back most of the January jump. The 3-month moving average continues to fall, now at ~6.89 million, now below the 2018-2019 pre-pandemic levels. There are now just 0.9 job openings for every unemployed worker, near the lowest of the current business cycle. By comparison, the ratio peaked at 2.0 in 2022, meaning available jobs per unemployed worker have been cut in half. Total separations have also dropped to a decade low, suggesting employers are neither hiring nor firing, effectively freezing the labor market in place. The job market is quietly weakening beneath the surface. Source: Global Markets Investor, wolfstreet
Chinese government bonds have sidestepped a global debt sell-off since the start of the Iran war, emerging as a haven from soaring energy prices and rising global inflation.
Source: FT
Here are the current sensitivity measures to the oil price
Source: David Ingles, Bloomberg
Last chance to buy nvidia $NVDA at a sub-20 forward PE ?
Source: Matt Cerminaro, TME
If you invested $1,000,000 in this company a year ago, Today you would have nearly $6,000.
A Bitcoin treasury company Nakamoto $NAKA crashed -99.30% in less than a year from its peak market cap of $24 billion to just $180 million erasing $23.3B in value. They company came under fire after the filing revealed that they just sold $20M worth of BTC at $70K which they bought at an average buying price of $118K, booking a -40% loss. The core issue is simple. Bitcoin is trading far below their cost basis, so the value of their treasury is shrinking while liabilities remain fixed. At the same time, the stock has collapsed below $1 for 30+ consecutive days, which directly triggers Nasdaq non compliance. If this is not fixed, the stock is expected to be delisted by 8 June 2026. Once delisted: liquidity drops → institutional access reduces → raising capital becomes extremely difficult. Source: Bull Theory
The United Arab Emirates is now planning to open the Strait of Hormuz BY FORCE with OTHER allies, after President Trump said "fend for yourselves!"
WSJ
Oil is up 70% in five weeks. The last time crude moved this violently was 2020. Back then the problem was too much supply. Now it's the opposite.
Source: Maxence Visseau - Arkevium Capital & Arkevium Research
