Slope of Hope Blog Posts

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Watch the Animal Spirits

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I’ve mentioned this frequently, particularly on my tastytrade show, but I want to stress again my theory that cryptocurrency markets – – particularly the big boys Ethereum and Bitcoin – – are going to be very vital in monitoring how this equity bear market unfolds. Indeed, it’s pretty much the only useful mechanism during the weekend for gauging market psychology when the stock bourses are otherwise shuttered.

Here, as of Monday morning, is Ethereum. Take careful note of how feeble its recovery from the Terraluna disaster was, and more importantly, how spectacular its topping pattern is. We’re talking Game Over level charts here, people.