Common Sense for Uncommon Markets
By Bill Taylor, CEO / Digital Wealth News and AI & Finance
DISCLAIMER: The opinions expressed below are my own & do not represent those of DWN or any affiliates. Any financial advice included here is for entertainment purposes only.
Bullish for week of 9/17/24
Neutral for the week of 9/17/24
GOLD [ S&P 500 [ BTC [ ETH
Bearish for week of 9/17/24
9/17/24 Closing Prices :
BTC: $60,324.11 | +4.1% | (Tue-Tue)
ETH: $2,350.95 | -0.08% | (Tue-Tue)
Gold: $2,540| +2% | (Tue-Tue)
S&P 500: 5,624.47| +2.3% | (Tue-Tue)
Well, well, well. It seems markets CAN only go up. I’ll be damned. I don’t get it but that doesn’t matter. Up is up.
So here we are waiting for tomorrow’s Fed announcement. Been waiting all year and finally here we go. Oh, the excitement. The drama. The expectations. 25bps? 50bps? 75bps? Maybe they will just get rid of interest rates altogether. Wow! But what will that mean?
If (IF) they were to cut 75bps what does that say about the economy? Hint. Not good. If (IF) they cut only 25bps-50bps that could risk pumping up inflation (again).
So how will the markets react? Better off seeing a fortune teller. Best to sit it out for a bit. Remember, it’s coming up on the end of the third quarter which means end of the year portfolio adjustment. Yes, it begins early now.
Going neutral on everything. It’s too much to handle right now. I fully expect a whole lot of “shenanigans” before the ‘scheduled’ election. When in doubt, sit it out.
BITCOIN and ETH. Has a new upturn begun? Strong possibility. Michael Saylor (Microstrategy) sure thinks so. He just bought $1B (that’s $1 BILLION) of BTC. Is he the only buyer, or just in front of others? Tough to go against Michael. He’s the man.
GOLD. All time highs. Lower interest rates bullish? Inflation flare up bullish? Run up to far to fast? Tough call but I guess it’s just best to watch for now.
S&P 500. Only up. always up. Too much for me. I don’t play musical chairs too well and the music is very close to stopping……unless it’s on a continuous loop. I’ll watch.
LIKE MY TAG LINE ABOVE STATES………COMMON SENSE for UNCOMMON MARKETS………THESE ARE CERTAINLY UNCOMMON MARKETS. BUT IT SEEMS COMMON SENSE IS SO LOST. FOR NOW.
2024 TARGETS:
- BITCOIN 2024……..????????
- ETH 2024…………???????????????
- GOLD 2024……….??????????
- S&P 500 2024……..??????????
Current trading positions:
- NEUTRAL BITCOIN
- NEUTRAL ETH
- NEUTRAL GOLD
- NEUTRAL S&P 500
We compare the price of Bitcoin, Ethereum, Gold & the S&P 500. We use the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference as well as the London Bullion Market afternoon price settlement on the digital assets & gold.
Bill Taylor is CEO of Digital Wealth News. He is widely published & quoted in financial media and an international expert on markets and BTC, ETH, Gold & SP500.
His opinions are solely his own and for informative purposes only.
