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Last night, I was doing some serious spelunking in my attic and storage closets for some old files, and I happened to come across a large brown box labeled, simply, “Memories.”
One thing long-time readers may have garnered about me is that I am sentimental to a fault. Or perhaps they haven’t. I’m not sure if I broadcast that kind of thing. But under this stoic figure lies a mushy mass of emotions and neuroses, all bundled together with the bailing wire of a few fond memories. Let’s face it, a middle-aged man who still tears up at the Spock death scene in Wrath of Khan isn’t particularly steely.
I am always interested to delve into the past, however, since a lot of interesting events have taken place in my time so far on this planet. It’s somewhat chilling, too. But I’ll get to that in a moment. For now, I offer something a bit more banal, which is this:
We haven’t looked at crypto in a while, so let’s address that.
My favorite chart remains Bitcoin Cash. The real question is this: has the dip that took place in crypto in general indicated that the game is over? Well, certainly not. Nothing important has been broken or violated.
To be clear, I still do not “get” crypto at all. As a chartist, though, I still look at a chart like this and think bullish thoughts:
The entire financial world was gushing and high-fiving yesterday about Zoom’s earnings results, and the stock exploded higher. The price gap that I’ve pointed out a gazillion times, however, has true power, and it didn’t even get near it. The stock basically opened at its high and has been falling all day. I think, ultimately, Zoom is Doomed.
We don’t look at forex charts too much, so let’s break tradition and look at three right now.
First up is the Euro versus USD. It has pushed above its long-term descending channel, suggesting that the US dollar may be heading for 1-ply toilet paper status. I mean, if the European Union has it together more than our once-great Republic, that’s pretty sad.