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Cryptocurrencies Score Gains as Payment Giant Enters Market

Cryptocurrencies Score Gains as Payment Giant Enters Market

Summary Paypal (PYPL) to begin offering crypto payment service.Bitcoin (BTC) rose more than 10% to new 52-week highs. Late last week, crypto-asset exchange OKEx suddenly suspended cryptocurrency withdrawals without much explanation. Later, reports surfaced that the...

Bitcoin Rips Higher on Square News

Bitcoin Rips Higher on Square News

Summary President Donald Trump’s tweet about a suspension of stimulus talks sent world markets seesawing.Square (SQ) converted $50 million into Bitcoin (BTC) Global markets went on a roller-coaster ride this week following news that President Donald Trump had...

Choppy Price Action Is Still the Trend in Cryptocurrencies

Choppy Price Action Is Still the Trend in Cryptocurrencies

Summary Cryptocurrencies were flat on the week, as range-bound action persists.Bitcoin (BTC) held onto price support near the $9,000 level.Concerns remain about a second wave of the Corona Virus. Bitcoin (BTC) continued to trade in a rather quiet, choppy fashion....

Banks Cling to Support Ahead of Stress Test

Banks Cling to Support Ahead of Stress Test

The Federal Reserve is set to release the latest stress test results for banks on Thursday, June 25th after the U.S market close. The central bank began conducting the stress tests in 2009, in response to the devastating effect of the global financial crisis. The...

Bitcoin, Altcoins Stall at Key Levels

Bitcoin, Altcoins Stall at Key Levels

Summary Cryptocurrencies continued to trade relatively quiet following the Federal Reserve meeting.Bitcoin briefly crossed the $10,000 level before stalling.Bitcoin (BTC) resistance lies at the psychologically important $10,000 level, while support can be found at the...

COVID-19 Losers Become Winners

COVID-19 Losers Become Winners

The price action in the major U.S. indexes in the last couple of weeks is a perfect illustration of how the stock market tends to constantly discount the future. Coronavirus headlines have hijacked almost all the nation’s news headlines, unemployment claims have seen...

A Remedy for Corona Virus? Biotech Stocks in Breakout Mode

A Remedy for Corona Virus? Biotech Stocks in Breakout Mode

Biotech stocks have been the poster child of relative strength in recent weeks. Relative strength (not to be confused with the Relative Strength Index) measures the performance of a stock or index against a broader benchmark like the S&P 500 index ($SPX.X). Though...

S&P Tests Support Dating Back to the Global Financial Crisis

S&P Tests Support Dating Back to the Global Financial Crisis

There is a famous quote on wall street that “The trend is your friend”. Regardless of the timeframe, technical traders can gain an edge by sizing up long term charts. The end of the global financial crisis led to the beginning of one of the longest bull markets of all...

S&P 500 Records Worst One Day Decline Since 1987

S&P 500 Records Worst One Day Decline Since 1987

Monday, March 16, 2020, marked the third-worst day in the history of the S&P 500 index. The S&P 500, which measures five hundred of the largest U.S companies, is one of the most followed equity indexes and has been around since 1926. Only during the Great...