The S&P500 traded both ways overnight, showing an interest in consolidating at the top of its range.
We are on the watch for a squeeze in the asset, although it has been holding up well so far. Things that can move risk lower include deflation – delaying fiscal stimulus (it has been quiet on that front), as well as the opportunity of low liquidity in December – traders should keep in mind that all of the insiders who had knowledge of the vaccine announcement were never tested.
Bitcoin looks like today could be the day, especially with the USD falling overnight, generally looking quite sad. Gold has been bid from the USD move, although BTC could also do something more in line with the S&P500 and in fact both assets are in a very similar market structure at present.
24 hr high: $ 19,621
24 hr low: $ 18,881
Bitcoin remains tricky to trade. The question to traders is whether it simply breaks higher at an innoucous time (possibly today) or does it wait for direction from the equity markets, in which we have to imagine an attempt to get through $16k
Eth is looking the stronger asset of the two with price action that looks bullish for the space.
24 hr high: $ 624
24 hr low: $ 586
Some mixed assets in digital assets, although mostly bullish.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||7.94||0.25651||16,693,119.00||$442,188,729.00|
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