Monday morning market update:
Stocks are starting the week a little heavy while crypto continues to show strength. S&P 500 and Nasdaq futures are lower this morning with rising yields, geopolitical headlines and a big week of catalysts keeping risk appetite in check.
Bitcoin is holding around $77K after its strongest weekly performance in quite a while, while ETH has pushed back toward $2,500 after a huge ~30% weekly rally. Crypto finally has some momentum again and the most promising signs in a long long time. The question is whether buyers can turn this into something sustained rather than another relief rally. I'll assume yes until proven otherwise given we have not seen this type of market confidence in months and months.
Big things I'm watching this week:
• NVDA earnings Wednesday. Probably the biggest individual stock catalyst for the entire market.
• PCE inflation + updated Q2 GDP Wednesday.
• Fed Chair Warsh speaking at Jackson Hole later this week.
• Whether BTC can hold the breakout and keep building above the $75K-$77K area.
• Can altcoins continue to show strength and hold key supports providing full confidence to the market
We've got a lot of potential volatility packed into the next few days.
Don't get so excited about one green candle that you forget the bigger picture. Trade the levels. Manage risk. Let the market prove itself.
Good morning, Happy Monday 🤝
Stocks are starting the week a little heavy while crypto continues to show strength. S&P 500 and Nasdaq futures are lower this morning with rising yields, geopolitical headlines and a big week of catalysts keeping risk appetite in check.
Bitcoin is holding around $77K after its strongest weekly performance in quite a while, while ETH has pushed back toward $2,500 after a huge ~30% weekly rally. Crypto finally has some momentum again and the most promising signs in a long long time. The question is whether buyers can turn this into something sustained rather than another relief rally. I'll assume yes until proven otherwise given we have not seen this type of market confidence in months and months.
Big things I'm watching this week:
• NVDA earnings Wednesday. Probably the biggest individual stock catalyst for the entire market.
• PCE inflation + updated Q2 GDP Wednesday.
• Fed Chair Warsh speaking at Jackson Hole later this week.
• Whether BTC can hold the breakout and keep building above the $75K-$77K area.
• Can altcoins continue to show strength and hold key supports providing full confidence to the market
We've got a lot of potential volatility packed into the next few days.
Don't get so excited about one green candle that you forget the bigger picture. Trade the levels. Manage risk. Let the market prove itself.
Good morning, Happy Monday 🤝