The halving is not a set date, but it’s currently projected to happen on or near March 2, 2024

Btw, when exactly is the halving? Thanks

Thanks so much, Jeff!

As with crypto (Bitcoin & Ethereum), I think there is a very good chance that the rally is either over or close to over (following one more marginal thrust higher) with the next leg down either now underway or (relatively) soon to be. My convictions aren’t high enough to have a short position as of yet but maybe soon. Will keep crypto on my radar & try to include an update soon.

I’m not Randy, but I love the crypto miners and wanted to chime in. I think most of the miners (RIOT, MARA, HUT, HIVE) are all in nice uptrends and could be bull-flagging for another potential move higher. But I do believe that any more upside will create bearish divergences and that an intermediate top will be put in, if they haven’t topped already. I’m hoping to scoop up more shares at better prices next year in the months before and just after the Bitcoin halving. In the meantime, one name that has lagged the crypto mining space and looks poised for a move higher is Cannan, Inc. (symbol CAN). Cannan makes computer systems that are built for crypto mining.

Yes, that reason was given yesterday (immediately) before the bounce started. The NDX was down more than it’s fallen in months & hit very good near-term support (375.40). With the market being in buy-the-dip mode, I would have been very surprised if the buyers didn’t step in right there, again, especially considering that QQQ had its biggest intraday fade (-2.5% since the opening pop) in months. https://rightsideofthechart.com/stock-market-forex-precious-metals-analysis-7-27-23/#comment-28830

Do you mean the QQQ long at 375.40? The first sentence in the post above (part in italics) is a hyperlink to that post in yesterday’s comment section, also here: https://rightsideofthechart.com/stock-market-forex-precious-metals-analysis-7-27-23/#comment-28830 & then covered again in the post-market wrap video from yesterday.

LMK if you meant something else.

I’m not Randy, but I can say that yesterday’s sell-off occurred on BOJ rumors, and once the BOJ statement came out, that became the “news” in a classic “sell-the-rumor, buy-the-news” setup. Both SPY and QQQ came down to good support where dip-buyers should have shown up, and they did. The economy continues to charge on and data continues to beat consensus. Earnings are mostly positive, as well with big positive reactions from the largest stocks this week, such as GOOGL,META,BA, INTC. The question shouldn’t be “Why is the market going up?” The question should be “Why the hell didn’t I buy that dip yesterday when the market is in a clearly defined raging bull market?”

I agree. With another 25 point interest hike (and rates that haven’t been this high in 15 years), you’d think that would dampen companies bottom lines at some time. Maybe there’s just a lag time.

Check out the following chart…It shows that the majority of the declines in bear markets since the 60’s occur AFTER the fed pivots…According to JP, we’re no where near that .

https://apis.mail.yahoo.com/ws/v3/mailboxes/@.id==VjN-nWqOFi0GhTQNE4WkbDgnHbvvwjvjG-bH9Oj6mlREWFhLoLieCXKFqlqa0Fmt9IgXGl2LEeEb8L4Fd0GBJs5fOA/messages/@.id==AB2-qjpl4aLqZMEySQVquBLB8_c/content/parts/@.id==3/thumbnail?appid=YMailNorrin&downloadWhenThumbnailFails=true&pid=3