UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
* Tues. Oct. 26 @ 10:00 am ET - CB Consumer Confidence
* Fri. Oct. 29 @ 8:30 am ET - Core PCE Price Index m/m Data
* Wed. Nov. 3 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Nov. 5 @ 8:30 am ET - Employment Data
* Tues. Nov. 9 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Wed. Nov. 10 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Tues. Nov. 16 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Wed. Nov. 24 @ 2:00 pm ET - FOMC Meeting Minutes
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Sunday, February 09, 2020
A Tale Of Two Parabolic Markets
Although both instruments are wildly different (inasmuch as Tesla is actually pegged to a tangible product and is backed by shareholders, Bitcoin is not...it's a cryptocurrency), they've both experienced extreme parabolic moves.
Bitcoin dropped like a stone throughout 2018 before it stabilized and eventually experienced a mini-rally (in comparison to its prior heady spike to 19,210 in 2017). Since mid-2019, it has mostly dropped in a choppy manner, and is attempting yet another comeback.
Tesla reached a high of 968.99 on February 4 before losing a couple of hundred points in two days. The Balance of Power is still in the hands of buyers on this timeframe. A drop and hold below zero will shift that power to sellers...one indicator to watch over the coming weeks.