I honestly have zilch and zip to say about stocks right now. Wednesday was a nothing day, and the laughable news that the U.S. is going to give China until 2025 to comply with any kind of trade “deal” is apparently a non-event (the ES and NQ are actually both slightly up as I am typing this). So let me just say a word or two about a couple of crypto charts, since those are in the news.
Bitcoin Cash has been on a crazy tear, but I’d like to point out the descending trendline. It might wind up in two or three weeks for another run to smash through it, but at the moment it seems plausible to me BCH will have some sellers taking profits at these levels.
The basing pattern I’ve been pointing out with BTC has had great follow through, and it still has some room. There is a lead wall of resistance at $6,000.
Ethereum, as with Bitcoin Cash, is bumping up against an important trendline.
One strange “odd man out” is Ripple, which is just………..sitting there. Remember when the found of Ripple was richer than Mark Zuckerberg for a day or two? Good times, good times.