[Market Commentary] Bitcoin recovers to $40,000, Western stocks also at all-time highs
Contribution dated June 15, 2021 (Tuesday)⇒ The shelf life of this article is until June 17, 13:00.
■ The biggest concern in financial markets is inflation in the U.S. and Europe
■ The biggest concern in the cryptocurrency industry is regulation between the U.S. and China (regulatory edits regarding El Salvador's adoption of BTC as legal tender)
The Dow Jones and Germany's DAX slipped, while others remained positive. The DAX is approaching a peak but showed a slight stall. The Philadelphia Semiconductor Index performed well with a day-over-day gain of 1.41%. The S&P 500 and NASDAQ-100 are at new highs, and overnight Nikkei futures are solid, returning from Chicago in the 29,300 yen range.
The yield on the U.S. 10-year Treasury rose to 1.49%. Gold fell sharply before the U.S. market opened, briefly dropping to the mid-1,840s, but recovered to around 1,868 on the rebound. Crude oil maintains an uptrend. The yen is weakening. Natural gas remains strong, while grains look to be pulling back. Yesterday, I mentioned that the collapse of soybeans resembles a Head and Shoulders pattern in technical analysis; that movement has accelerated. For the concepts of technical analysis, please refer to “What you should know about market commentary.”
[Source] Trading View Chicago Soybeans futures daily chart
The cryptocurrency market remains firm, with Bitcoin rebounding above $40,000.
The next major traditional finance event to watch is the FOMC meeting this week on Wednesday (Thursday 3:00 a.m. Japan time).
*Tomorrow is a travel/adjustment day, so please pause distribution.
【Stocks with trading appeal】
DAX, NASDAQ-100
NY Crude Oil, Natural Gas
Bitcoin, Ethereum
Soybeans
【What you should know about market commentary】
・Market analysis focused on pro traders
・Positioning of cryptocurrencies from an overview of financial markets
The content provided centers on these two points, and please consider the following:
You must think for yourself.
① Is the materialtransientin nature
② Is the impact on pricesustained
Differences of this content: providing an overview of the financial markets and cryptocurrency market commentary
Differences refer to how this content differs from other market commentary and general market news.
※ Since traders may trade anything, you may focus on hot and rewarding products, or ignore if there is no appeal in cryptocurrencies.
Trader mindset
・“Explaining after something happens” is enough to know. Predictive ability does not directly translate to trading performance
・You cannot explain market moves happening right in front of you
・Even without a clear direction, profit is possible
・When analysts/strategists say something will rise, you can use pullbacks or corrections
・Initial moves are solitary, but you should ride the big waves
Traders can win without knowing market fundamentals. This content differs in purpose from market commentary or market analysis reports that do not directly translate to trading, but on the surface it may resemble general market news.
