...because nothing says "sell protection" or "cover hedges" like a warmongering Trump addressing The UN and a clueless Fed set to announce balance sheet normalization...
US equity markets are open... Sell VIX Mortimer, Sell!
Sometimes you just have to laugh...
and after weakness from the EU open, the US open prompted algos to BTFD...
Financials ramped above their 50DMA...
Despite headlines from WSJ of "the most draconian measures ever" against Bitcoin, the cryptocurrency is trading up over $1100 from its post-China-"ban" lows and has topped $4100 once again this morning as the world slowly wakes up to the nonsense that shutting down a completely decentralized system is possible, and the fact that China has long-since lost any standing as a major trading hub in the cyrpto world.
Bitcoin just topped $4100 (up over $1100 from the lows last week)...
Before a forecast tropical storm, residents of a coastal floodplain keep one eye trained on the weather as they go about their daily business.
Wary investors keep an eye out for potential political, geopolitical, as well as natural disasters.
Homeowners on the Gulf of Mexico take precautions against the potential for wind and water damage, as do market-minders seek indemnity from inflation and recession, up and down markets, changing tax policy, and potential for catastrophe.
via marketslant.com
Friday's close came back to haunt us it seems. Spot did close under $1321 implying a quick and potentially large move lower with little bounce on the way down. The market has given us $7.00 of that move without touching the signal negation level. It has dropped in a more orderly fashion than expected however, which could augur end of a trend on the volatility system we use.
Friday's Posts giving us the alarm
Authored by Mike Shedlock via MishTalk.com,
The Equifax security breach scandal keeps growing and growing. Their handling of the data breach that affected as many as 143 million accounts has been horrendous.
Executives dumped their shares before reporting the stolen data. Following the breach, their website did not function properly, people got signed up for programs they did not want or need, and customer service has been dismal all around.
Equifax is Not Your Friend