There was a good short in the S&P500 overnight as stimulus talks stalled (again).
We have talked about markets now having a very linear relationship with decision-maker policy as the complexity has been taken out of the price-seeking mechanism and this on/off, deflation/inflation story is a great example of that.
The dollar index is trading higher and gold is still doing very little – gold miners are indicating a tendency towards the deflationary scenario at this point.
Bitcoin has had a couple of good trades in it, breaking highs and lows and also suggesting it is locked up for the time-being after its break-out move.
BTC last traded at 13,054
24 hr low: $ 12,774
With the market finding stops both sides to break-out but ranging instead, traders need to be careful going with the momentum.
It indicates that the market could stay at these levels for some time as it decides whether it is normally bearish or aggressively bearish. Normally bearish would see bitcoin stay in its trend-channel and aggressively would break above it.
Ether has the beginnings of a good little parabolic price rise over a long enough time period for it to mean something so we will keep an eye on that there.
24 hr high: $ 411
24 hr low: $ 383
Digital assets were largely trading lower overnight with curve finance the most significant move on our list.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||7.65||-2.54085||15,795,653.00||$421,136,948.00|
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