Big story was the huge selloff in Tech on Friday, buyers did come in last hour of the day, rest of the market saw rallies in Energy, oil and gold move lower, and finally Bitcoin heads to the moon. In Forex, New Zealand hangs on to it’s top spot and Pound brings up the rear
All this and more in my weekly video
The Crypto market shows no sign of topping, adding another 12 billion or 12% to it’s Market Cap in a week, of that 12 billion, 8 went to Ethereum, That puts Ethereum on a trend that could have them over take Bitcoin as the number one crypto currency in as little as 3 weeks from now.
overnight while Bitcoin pulls back a bit after topping 3,000 a coin, Ethereum adds another 3 billion to it’s market cap, Now just 13.3 billion behind Bitcoin. In my last post I said ETH could overtake BTC in as little as 3 weeks, that now could happen by the end of this week.
The roller coaster ride continues in the Crypto’s , after seeing some crazy up moves the market is now pulling back, put Ether up to over $400 at one point is holding positive for the day, while Bitcoin drops more market cap, Now only 9 billion separating Ether and Bitcoin
REIT’s lead market higher followed close behind by Energy, while top performers in the Tech sector have another day of selling
Ether is on the move again closing the gap on Bitcoin, I think by now most people have heard of Bitcoin even if they do not own any, but how many people know about Ethereum, that will change when Ether becomes the #1 Crypto currency by market cap. Then we should see the real move
after selloff it’s all green again in Crypto Land, Keep an eye on that market cap number, as long as it is growing, the Crypto market is just fine
Friday’s selloff in Tech was short lived as every sector posted a gain today, lead by Oil Exploration, this worst sector of 2017 is seeing good volume in this rally. Trend is still down but just maybe this is the turn
Market was mostly down, lead lower by energy, we did see buying the last hour of trading in most sectors
big selloff in the Crypto’s , market cap below 100 billion. I would love to see some sideways action here giving us a new base to start buying
DOW at all time highs, Tech sector consolidates, Oil down but energy stocks up. Gold down, Cryptos big pull back after record run. Forex consolidates
All this covered in my weekly market review
mostly up day with YTD leader Biotech leading , Tech sector rallies, Energy still weak , XLV, XLI and DIA at all time highs
Red day in the Markets with lots of selling in final hour, only 1/3rd of market is above it’s 10 dma
Crypto Market Cap is on the rise, Bitcoin hold 9 billion lead over Ether, that is up from 6 billion a week ago
The Transports have formed a multi year Cup w/ Handle, with energy prices being kept low, Transports could be in for a big long term move up
Here is my weekly look at Market Trends
