$BTC has been roughly flat over the past week or two, which could be a bull flag (a brief consolidation after a sharp rally that often precedes the next leg up) or a small bearish consolidation, with no clear answer yet; however Bitcoin dominance (Bitcoin's share of the total crypto market) is rising, which could mean Bitcoin stays flat while altcoins see a major pullback.
Natural gas is holding its short term support (a price area where buyers step in to defend against declines) with the outlook positive given winter seasonality. Gold and silver are both near important trend lines, and a break below could open further downside in both. There's news in the memory sector of a new technology that can do more with less memory, a potential long term risk for demand. Micron delivered outstanding earnings with better than expected guidance, but the stock didn't rally much since the beat was already expected and rising costs raise margin pressure concerns (Reuters, ZeroHedge).
At quarter end fund managers sell their poor performers, which means heavily beaten down stocks can bounce at the start of the new quarter. The equal weighted S&P 500 is roughly 7 percent below its high while the regular S&P is only 2 percent down, meaning a handful of large stocks are holding the market up.
The US 10 year and 30 year yields are both at their highest since 2002, driven by inflation and rising government debt concerns (Reuters); October hike odds have eased but December remains possible. S&P futures are slightly higher and the index remains in its bullish zone. Today's jobless claims came in line, with the major non farm payrolls report due tomorrow.
This is a market observation only, so base your trading decisions on your own research and risk tolerance.
Natural gas is holding its short term support (a price area where buyers step in to defend against declines) with the outlook positive given winter seasonality. Gold and silver are both near important trend lines, and a break below could open further downside in both. There's news in the memory sector of a new technology that can do more with less memory, a potential long term risk for demand. Micron delivered outstanding earnings with better than expected guidance, but the stock didn't rally much since the beat was already expected and rising costs raise margin pressure concerns (Reuters, ZeroHedge).
At quarter end fund managers sell their poor performers, which means heavily beaten down stocks can bounce at the start of the new quarter. The equal weighted S&P 500 is roughly 7 percent below its high while the regular S&P is only 2 percent down, meaning a handful of large stocks are holding the market up.
The US 10 year and 30 year yields are both at their highest since 2002, driven by inflation and rising government debt concerns (Reuters); October hike odds have eased but December remains possible. S&P futures are slightly higher and the index remains in its bullish zone. Today's jobless claims came in line, with the major non farm payrolls report due tomorrow.
This is a market observation only, so base your trading decisions on your own research and risk tolerance.