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Show Notes

Summary of the day

So much to cover today!

CPI data came in hot. The writers for the sell side went into scamble mode.

The bitcoin etfs started trading today and it was messy. $MARA opened up 5% then settled down at the lows. Bitcoin itself hit 49k but sold off.

The sell sides Apex Terminator model came onto CNBC and proclaimed it was likely after the etfs were approved, that each $BTC will reach $1.5m USD!!! Yeh and Gold will be $10M USD per ounce!

There is nothing to smile about in the top 10 holdings of ARKK

The market tried to rally at lunch time. First the $VIX was pummeled but no rally. Then the 10yr was pressured below 4% and that did the trick.

But look at breadth, specifically the NYSE ADV/DEC up down volume as of 3:20pm. It would have told you rallys were to be sold.

COIN which is 10% of ARKK finished at lows of the day. Yet they are supposed to be the custodian for the majority of the approved spot bitcoin ETFs.

10 yr yields closed at lows of the day. It holds the fate of prices.

Breadth

* 424 new highs

* 202 new lows

* 39% advancing 56% declining

* 25% below 50 day ma

* 34% below the 200 day ma

Stuck out

10 Yr Yield under pressure

TSLA loses 200 day ma

Strong

Magnificent 6

Weak

What to watch

PPI Fri

Watch Crypto Animal Spirits

Watch mag 7

Watch yields

Economic data

https://www.marketwatch.com/economy-politics/calendar

Financial Freedom is not free, but the pursuit is worth the treasure.

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Podcast EP 117 She/Her/It Terminator (Jan 11, 2024) 14:08 Share

Not Your Advisor

Shownotes Transcript

Podcast EP 117 She/Her/It Terminator (Jan 11, 2024)