Why Nigeria Is Number One In the World for Bitcoin Searches

Why Nigeria Is Number One In the World for Bitcoin Searches

As the Nigerian naira plunges in value, Nigerians are scrambling for ways to protect their purchasing power. In this modern era, Bitcoin (BTC/USD) offers the promise of a digital store in value. Accordingly, Nigeria has returned to the number one spot in the world for national share of searches taken by Bitcoin according to Google … Read more

Is An Overbought Rally the Next Frontier for Bulls? – The Market Breadth

frontier (Credit: Angry Bull - Creative Commons 2009 high resolution by zoutedrop on Flickr)

Stock Market Commentary: Last week started strong with Goldman Sachs (GS). Analysts there looked beyond the coming Federal Reserve meeting and hiked their year-end price target for the S&P 500 to 4500. The index quickly moved half the remaining distance and opened the door for more price chasing by analysts before 2023 hits the halfway … Read more

Stock Chart Reviews – Snapshots of the Fresh Bearishness

Stock Market Commentary: After much resistance to Fed hawkishness, the U.S. stock market gave way to fresh bearishness. The major indices dropped into new depths of the bear den. The stocks below are snapshots of the latest deterioration in the price action and decline in the technical health underlying the stock market. The ARK funds … Read more

African Nations No Longer Lead the World in Bitcoin

Google trends provides a measure of the popularity of Google search terms. The data can indicate relative popularity and interest in a topic. I use the search on “Bitcoin” as a trade indicator called the Google Trends Momentum Check (GTMC). During my checks on the GTMC, I noticed for quite some time the African nations … Read more

South African Rand Boosted By Central Bank Confidence

Last November, the South African rand (USD/ZAR) finished reversing its pandemic related losses against the U.S. dollar. Along the way I pointed out the benefits of getting long the South African rand. This week, USD/ZAR dropped to levels last seen in January, 2020. The rand looks to strengthen further based on the confidence expressed by … Read more

An Overbought Stock Market Stretching for a Fresh Rally – Above the 40 (November 27, 2020)

Stock Market Statistics AT40 = 79.6% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #10 overbought) AT200 = 76.0% of stocks are trading above their respective 200DMAs (near 3-year high and holding breakout above post financial crisis downtrend) VIX = 20.8 Short-term Trading Call: neutral Stock Market Commentary Instead of Monday, … Read more

How to Buy Jumia Technologies with Limited Risk

Jumia Technologies (JMIA), the “Amazon of Africa”, is up 191% since closing with a 19% 1-day, post-earnings loss on November 10th. The stock is at a 19-month high and has once again become a strong momentum trade. However, buying at these heights inherently comes with a lot of risk. At some point, the stock will … Read more

An Overbought Stock Market Bang and a Whimper – Above the 40 (November 20, 2020)

Stock Market Statistics AT40 = 76.6% of stocks are trading above their respective 40-day moving averages (DMAs) (Day #6 overbought) AT200 = 71.8% of stocks are trading above their respective 200DMAs (near 3-year high and holding breakout above post financial crisis downtrend) VIX = 23.7 Short-term Trading Call: neutral Stock Market Commentary The stock market … Read more

An Overbought Stock Market Faces Down the Stimulus Stalemate – Above the 40 (August 14, 2020)

Stock Market Statistics AT40 = 76.1% of stocks are trading above their respective 40-day moving averages (DMAs) (6th day overbought)AT200 = 46.3% of stocks are trading above their respective 200DMAs VIX = 22.1Short-term Trading Call: cautiously bullish Stock Market Commentary While the politicians in Washington D.C. play a game of chicken with the economy, the … Read more

Stocks Wind Back Up – Above the 40 (July 31, 2020)

Stock Market Statistics AT40 = 51.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 35.6% of stocks are trading above their respective 200DMAs VIX = 24.5Short-term Trading Call: neutral Stock Market Commentary Major League Baseball (MLB) may be forced to wind back down, but stocks look like they are winding … Read more