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Riding the Bitcoin Trend: Buy-the-Dip Strategy for BTC/USD

On Friday, September 7, at 9:30 a.m., a parachute test for a future mission to Mars successfully launched on a NASA Black Brant IX suborbital sounding rocket from Wallops Flight Facility. The rocket carried the Advanced Supersonic Parachute Inflation Research Experiment (ASPIRE) from NASA's Jet Propulsion Laboratory (JPL) in Pasadena, California. The payload is a bullet-nosed, cylindrical structure holding a supersonic parachute, the parachute's deployment mechanism, and the test's high-definition instrumentation, including cameras, to record data. The payload descended by parachute and splashed-down in the Atlantic Ocean 28 miles from Wallops Island. The parachute was successfully recovered and returned to Wallops for data retrieval and inspection.

Bitcoin Uptrend Analysis The trend is a friend for Bitcoin (BTC/USD) again. All three of the major moving averages are pointing upward for Bitcoin. This synchronization of the 20-day moving average (DMA), 50DMA, and the 200DMA supports a buy-the-dip strategy after the big March breakout in the wake of the banking Panic of 2023. Assuming … Read more

The Latest Lap On the Generative AI Trade

AI race (Credit: Fuyoh! on Flickr)

Stock Market Commentary: The trade on Generative AI took a surprising turn last week as investors and traders rushed to related names as if they offered safety from the banking Panic of 2023. Some stocks shot straight up for the week. The renewed interest surprised me because I just happened to write about this trade … Read more

A Seesaw Between Resistance and Support – The Market Breadth

seesaw (Credit: lovlibovli on Flickr)

Stock Market Commentary: The stock market this month has teetered on a seesaw alternating from resistance to support. The rapid back and forth makes it too easy to overinterpret both ends of these swings. However, a slow and steady convergence of resistance and support levels portends a potential big move ahead. Active and high volume … Read more

Overbought’s End Brings Trouble Ahead of CPI – The Market Breadth

Stock Market Commentary: Last week ended the overbought period with a relatively strong report on initial claims for unemployment. The stock market – still freshly stung with the memory of the previous week‘s exceptionally strong jobs report – sold off sharply in response to the good economic news. A stubbornly resilient labor market continues to … Read more

Bullish Intent Extends Overbought Conditions – The Market Breadth

bullish intent (Credit Demitry_S on Flickr)

Stock Market Commentary: The stock market oozed with bullish intent as it pushed its way through the latest Federal Reserve statement on monetary policy. While Jerome Powell made sure to stick to the script and introduced no surprises to the market, he was surprisingly reluctant to underline the Fed’s hawkishness. The market made a mile … Read more