Since 1941 strong first half S&P 500 performance has been associated with further gains in the second half of the year, though with more volatility
Since 1941 strong first half S&P 500 performance has been associated with further gains in the second half of the year, though with more volatility. Past performance does not guarantee future results... Source: Edward Jones
The S&P 500 is currently trading ~12.5% above its 200-day Moving Average
The S&P 500 is currently trading ~12.5% above its 200-day Moving Average. We haven't seen $SPY this far above its 200-day since August of 2021, nearly two years ago. While it looks over-extended, it is not unsustainable. For instance, study the left side of the chart from Nov '20 - Aug '21 Source: Grayson Roze
NASDAQ is trading in the upper part of the steep trend channel
NASDAQ is trading in the upper part of the steep trend channel. Note the shooting star candle today, a classical candle that should be observed closely post strong short term trends. One candle doesn't make a "case", but watch for a possible confirmation session. Source: TME, Refinitiv
Sentiment on bitcoin can dramatically change in a matter of months or weeks.
Source: Benjamin Cowen
The Biden administration announced it would automatically cancel education debt for 804,000 borrowers
The Biden administration announced it would automatically cancel education debt for 804,000 borrowers, for a total of $39 billion in relief. The debt cancellation is a result of the administration’s fixes to repayment plans, which included updated counts of borrowers’ payments. Source: CNBC
$JPM JP Morgan Chase Q2 FY23 numbers
$JPM JP Morgan Chase Q2 FY23 numbers • Net revenue +34% Y/Y to $41.3B ($2.5B beat). • Net Income $14.5B. • EPS: $4.37 ($0.61 beat). • CET1 ratio of 13.8%. $2.7B First Republic bargain purchase gain in Corporate. Source: App Economy Insights
Disinflationary trends in the US
Disinflationary trends in the US 1) CPI Inflation: 3.0%, Lowest since March 2021. 2) PPI Inflation: 0.1%, Lowest since August 2020. 3) Import Prices: -6.1%, Lowest since May 2020. 4) Export Prices: -12%, Lowest on record. Source: Charlie Bilello
Kraken, Crypto.com Join Coinbase in Relisting XRP After Court Ruling
More major exchanges have reintroduced XRP to their platforms, following a U.S. court ruling on Thursday morning. The rush to make XRP available again to U.S. users comes in the wake of a partial ruling in the Securities and Exchange Commission's case against Ripple Lab. Federal district judge Analisa Torres ruled that the XRP token “is not necessarily a security on its face,” except when sold to raise funds from institutions. Although the case did not concern secondary sales of XRP, the decision to proclaim that it is not a security has boosted the confidence of crypto exchanges to offer the token.
Source: Decrypt
