The Nasdaq 100:
- if you bought at the December 2022 low, you are up 64% - if you bought at the 2021 high. you are up 5%. - if you bought at March 2020 lows, you are up 150% Source: Bespoke, TME
Could this signal a bottom in Hong Kong stock market?
The index's P/B is now at a level that preceded the three biggest rallies (81%, 43%, 55%) over the last decade. Source: Bloomberg, David Ingles
As of January 19th, NVIDIA $NVDA and Microsoft $MSFT had accounted for about 75% of the S&P 500's gain this year, while the 20 largest stocks in the index accounted for 110% of the index's upside move
The remaining ~480 stocks were acting as a drag. Source: Bespoke
The SP500 just snapped a 512 trading day streak without hitting a new all-time high, the 6th longest in history. Here is how the $SPX responded the 5 previous times:
Source: Barchart
BlackRock is already putting out charts showing that $BTC has been the world's best-performing asset in the last decade.
Source: Lark Davis
This year is just the fifth time that the S&P 500 has started the year with back-to-back declines of 0.5% or more
Source: Bespoke
Remember, nearly all of the S&P 500 ETF's $SPY gains since its inception have come from the day after down days. A good reminder after the two red days we've seen to start the year
Source: Bespoke
UPDATE -> Bitcoin $BTC price dumped 9% in 1 hour on the basis of a report by Matrixport predicting an SEC rejection of ALL Bitcoin ETF applications
Their justification? Politics. - 5 voting commissioners are Democrats. - Democrats don't like 'crypto'. - Applicants haven't satisfied the SEC's requirements. - There is not political justification to approve a Bitcoin ETF. Eric Balchunas continues to give a +90% chance of approval due to a number of factors, especially the SEC's significant change in behaviour by way of engaging with applicants and providing them with guidance on updating their applications. Source. Bitcoin Archive
