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Solana drops as FTX sells $2.6 billion at 38% discount

Solana drops as FTX sells $2.6 billion at 38% discount

Solana token prices have fallen by 4% in the past day after the bankrupt crypto exchange FTX sold $2.6 billion worth of tokens to Figure Markets and Pantera Capital at a significant discount, according to Bloomberg.Figure bought 800,000 Solana tokens for about $80 million, or $102 per token – a 38% discount from Friday’s market […]
Are Stocks Ready For A Deeper Correction?

Are Stocks Ready For A Deeper Correction?

The S&P 500 reversed from a new record high. Is this a topping pattern?Stocks took a downturn on Thursday, with the S&P 500 index closing 0.74% lower after setting a new record high of 4,341.88 early in the day. Initially, the market rallied on Wednesday’s earnings release from NVDA, but soon, the bears took over, […]
The Energy Report: Ceasefired Up

The Energy Report: Ceasefired Up

Oil prices retreated yesterday along with a big sell off in the stock market as concerns about inflation and rising interest rates put it damper on most of the markets. Today, believe it or not, the market is getting some pressure from a Reuters report that Vladimir Putin is looking for a ceasefire in Ukraine. According […]
Reversing, But For How Long?

Reversing, But For How Long?

S&P 500 continued its ascent driven by Nasdaq, fine NVDA earnings – only to reverse from 5360, well before the hot PMIs. Fears that inflation with deferred cuts if not tightening, are what has disquited the market. At the same time, NVDA wasn‘t knocked off, bonds didn‘t crater badly, and Sep rate cut odds remained […]
2 Great Stocks To Buy Now At Huge Discounts Heading Into June

2 Great Stocks To Buy Now At Huge Discounts Heading Into June

The Nasdaq and the S&P 500 touched new all-time highs on Thursday, before giving up those gains. Most are still calling for a boring march higher this summer as the remaining market bears wave the white flag.That said, the market is looking a tad overheated in the near term and so are tons of stocks. […]
XAUUSD Commodity Elliott Wave Analysis – Friday, May 24

XAUUSD Commodity Elliott Wave Analysis – Friday, May 24

Gold Elliott Wave Analysis  Function – Trend Mode – Impulse Structure – Impulse wave Position -Wave A of (4) Direction – Wave A of (4) is still in progress Details – 1st Scenario – Gold now favors the current dip to continue as part of wave (4) in a zigzag structure.  2nd Scenario –  It may be wave 4 […]
Is The World Lurching Back Toward A Gold Standard? 
                    
Why Is There Such Disdain for a Gold Standard?
Is a Gold Standard Coming Back?

Is The World Lurching Back Toward A Gold Standard? Why Is There Such Disdain for a Gold Standard? Is a Gold Standard Coming Back?

By Mike Maharrey, Money Metals ExchangeCould the world be creeping closer to a monetary gold standard? Steve Forbes sees signs that it is.In a recent article published by Forbes Magazine, Forbes wrote that it may seem hard to believe, but the world is “beginning to lurch toward a gold-based monetary system.”“This, despite the fact that the […]
Strong Economic Reports Fuel The Dollar And Harm Indices

Strong Economic Reports Fuel The Dollar And Harm Indices

The US stock indices closed lower on Thursday. At the end of the day, the Dow Jones Index (US30) was down 1.53% (the worst day in a year), while the S&P 500 Index (US500) lost 0.74%. The NASDAQ Technology Index (US100) closed negative 0.39%. Stock indices initially increased, with the S&P 500 (US500) and NASDAQ (US100) setting new record highs. But then the market began to […]
Daily Briefing – For May 24, 2024

Daily Briefing – For May 24, 2024

Pent-up selling into strength – finally arrived; albeit not in the most-hyped AI sector; almost exclusively. So far this is actually healthy; while characteristics of a ‘vacuum’ of ‘bids pulled’ gets attention; and it was a key reversal session.That means ‘higher high, lower low and lower close’ which defines an ‘outside day’ or key reversal. However […]
US Market Commentary – Friday, May 24

US Market Commentary – Friday, May 24

USD Fighting BackIt’s been a wild ride for the US Dollar over the last two weeks. Following the heavy sell off we saw last Wednesday in response to softer US inflation, a string of hawkish comments from Fed policymakers, as well as the release of the latest FOMC minutes, has helped drive a reversal in […]