BT 5, September 9, 2019
MarketSmith charts, Status quo
https://marketsmith.investors.com/mstool/Tool/ChartPopout?symbol=SPY&userId=292195381259781
Here was my take from 8/5/19 “SPY gapped down, 2.5x normal volume, China said stopped buying ag from America, devalued yuan, reason doesn’t matter. Watch rally, 50-dma is at 292. My guess is volume will be light, close the gap.
Bottom line—3800+ days, market is old, tired, steroids of Fed and tax cuts, buybacks and earnings not working. It’s just time, stocks are going down.”
I think this still stands. This week is always slow, with many traders/investors escaping for Labor Day. The pattern remains, however, down days volume is largely heavier than up days, thus still seems tired.
Barron’s, August 26, 2019, by Lewis Braham
https://marketsmith.investors.com/mstool/Tool/ChartPopout?symbol=GBTC&userId=292195381259781
Lewis highlights ETHE and GBTC. I confess I did like the Grayscale Bitcoin Trust/GBTC chart. As he points out the ETF shares have traded at an average 43% premium overall. This makes it off limits in my opinion. Two ways of getting whipsawed indeed.
Comedian Gary Gulman, Bill Gates vs. Donald Trump
https://www.youtube.com/watch?v=A1hP9M0MNdo
Nothing political, just funny, please enjoy!