The Big Stock Market Run Higher May Finally Be Over

When looking around the market place, nothing is supporting this moving higher, and I’m not referring to fundamentals. Options betting remains bearish, and there have been very few bets building for higher prices on the S&P 500. Copper was smoked yesterday, falling by 3.3%, and below $2.80. The significant gains from the financials and industrial have vanished, and the XLK was up by just ten bps. Volume levels were low yesterday as well.

The SPX has been unable to push through resistance around 3,385 and is likely to fill that gap yesterday around 3,340 or so.

Additionally, the RSI in the SPX is now rolling over, and it could suggest a change in trend is here.

The QQQ ETF, which tracks Nasdaq, rose to resistance at $275.50 and failed to push higher, not a good sign at all. The RSI is now clearly trending lower as well, and that is a negative sign as well.

Overall, the movement in the market seems to suggest it is completely worn out, buyers are exhausted, and a change in trend is not only coming but is likely here. I think it may be pretty much over for now. Copper is telling us the big run is over.

Junk bonds are telling us it is over.

Even gamma levels are telling us it is about over. The high strike $340 level on the SPDR S&P 500 ETF (NYSE:SPY) has hardly moved higher since August 7’s, reading at $335. Meanwhile, QQQ hasn’t seen its high gamma strike price rise above $275 since August 6. It means nobody is rolling their bets higher; it means the options market is not anticipating higher prices.

Amazon (NASDAQ:AMZN) failed at the downtrend yesteday and is likely moving lower still and a date at the uptrend line around 3,000. That RSI is telling you the next major

Read More Here...

The Big Stock Market Run Higher May Finally Be Over

When looking around the market place, nothing is supporting this moving higher, and I’m not referring to fundamentals. Options betting remains bearish, and there have been very few bets building for higher prices on the S&P 500. Copper was smoked yesterday, falling by 3.3%, and below $2.80. The significant gains from the financials and industrial have vanished, and the XLK was up by just ten bps. Volume levels were low yesterday as well.

The SPX has been unable to push through resistance around 3,385 and is likely to fill that gap yesterday around 3,340 or so.

Additionally, the RSI in the SPX is now rolling over, and it could suggest a change in trend is here.

The QQQ ETF, which tracks Nasdaq, rose to resistance at $275.50 and failed to push higher, not a good sign at all. The RSI is now clearly trending lower as well, and that is a negative sign as well.

Overall, the movement in the market seems to suggest it is completely worn out, buyers are exhausted, and a change in trend is not only coming but is likely here. I think it may be pretty much over for now. Copper is telling us the big run is over.

Junk bonds are telling us it is over.

Even gamma levels are telling us it is about over. The high strike $340 level on the SPDR S&P 500 ETF (NYSE:SPY) has hardly moved higher since August 7’s, reading at $335. Meanwhile, QQQ hasn’t seen its high gamma strike price rise above $275 since August 6. It means nobody is rolling their bets higher; it means the options market is not anticipating higher prices.

Amazon (NASDAQ:AMZN) failed at the downtrend yesteday and is likely moving lower still and a date at the uptrend line around 3,000. That RSI is telling you the next major

Read More Here...

The Big Stock Market Run Higher May Finally Be Over

When looking around the market place, nothing is supporting this moving higher, and I’m not referring to fundamentals. Options betting remains bearish, and there have been very few bets building for higher prices on the S&P 500. Copper was smoked yesterday, falling by 3.3%, and below $2.80. The significant gains from the financials and industrial have vanished, and the XLK was up by just ten bps. Volume levels were low yesterday as well.

The SPX has been unable to push through resistance around 3,385 and is likely to fill that gap yesterday around 3,340 or so.

Additionally, the RSI in the SPX is now rolling over, and it could suggest a change in trend is here.

The QQQ ETF, which tracks Nasdaq, rose to resistance at $275.50 and failed to push higher, not a good sign at all. The RSI is now clearly trending lower as well, and that is a negative sign as well.

Overall, the movement in the market seems to suggest it is completely worn out, buyers are exhausted, and a change in trend is not only coming but is likely here. I think it may be pretty much over for now. Copper is telling us the big run is over.

Junk bonds are telling us it is over.

Even gamma levels are telling us it is about over. The high strike $340 level on the SPDR S&P 500 ETF (NYSE:SPY) has hardly moved higher since August 7’s, reading at $335. Meanwhile, QQQ hasn’t seen its high gamma strike price rise above $275 since August 6. It means nobody is rolling their bets higher; it means the options market is not anticipating higher prices.

Amazon (NASDAQ:AMZN) failed at the downtrend yesteday and is likely moving lower still and a date at the uptrend line around 3,000. That RSI is telling you the next major

Read More Here...

Nasdaq Listed Fintech Fiserv to Offer Payments and Financial Services Tech Solutions to India’s Federal Bank

India-based Federal Bank (NSE: FEDERALBNK), an established private sector bank, has selected Fiserv, Inc. (NASDAQ: FISV), a multinational provider of payments and financial services tech solutions, to support the digitization of the bank’s end-to‑end card issuance and processing cycle.

Fiserv will also assist with the launch of Federal Bank issued credit cards. The bank will be outsourcing related operational processes to Fiserv as well.

As mentioned in a release shared with Crowdfund Insider:

“With a strong retail and remittance business in India, Federal Bank was looking for a flexible and scalable technology and business process outsourcing (BPO) solution to support the launch and subsequent growth of its credit card business.” 

Federal Bank confirmed that it would use Fiserv’s FirstVisionTM, an end‑to‑end managed services solution that facilitates card issuing and processing with “global economies of scale and integrated capabilities that span the card lifecycle.”

Ivo Distelbrink, EVP and head of Asia Pacific at Fiserv. noted:

“Financial institutions in India are undergoing rapid digital transformation, and have further accelerated their digital agenda during the current pandemic. Fiserv [aims to offer] digital capability, infrastructure, personnel and security to help our clients adapt, differentiate and operate more efficiently.”

The integrated technology stack and BPO solution aim to lower the cost of ownership while offering a seamless extension to the Federal Bank’s existing operations.

Shalini Warrier, Executive Director and Business Head – Retail at Federal Bank, stated:

“Fiserv supports our digital priorities and expansion plans. Their .. technology platform and extensive local experience position us to offer an enhanced digital experience to our customers.”

FirstVision’s service-focused architecture and open APIs support fast application development, allowing new capabilities or functionalities to be marketed quickly, efficiently, and at significantly lower costs, the release noted.

Nilufer Mullanfiroze, Country Head – Deposits, Cards

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BitGo CEO Recommends Allocating 3% of Portfolios to Bitcoin, as Nasdaq Listed Firm Acquires $250 Million in BTC as its “Primary Reserve Asset”

Mike Belshe, the CEO at BitGo, a Palo Alto, California-based digital asset trust and security firm offering a multi-signature Bitcoin (BTC) wallet service, recently noted that many companies are now going out of business due to challenges related to COVID-19.

Belshe points out that there doesn’t appear to be an end in sight, even after being six months into the pandemic. He believes that small businesses with leases will begin to default at this time, and the “paltry” $600 per week for each person of unemployment money will “look like chump change” when compared to what the government will have to spend to “prevent the next wave of carnage.”

Belshe claims or argues that the US government is “being forced to maintain lockdowns for political correctness, which will force them to print money even faster.”

He adds:

“Institutional investors are flagging this and recognize the devaluation will make cash hard to hold. They’re looking for alternatives, and it comes down to Bitcoin and gold.  If you don’t have some Bitcoin now, it is time to put at least 3% of your net worth into Bitcoin. This is the lowest risk, highest asymmetric upside investment you will likely see in your lifetime. Or stop the lockdown. But still get Bitcoin.”

On August 11, 2020, MicroStrategy Incorporated (Nasdaq: MSTR), a major independent publicly-traded business intelligence firm, revealed that it had acquired 21,454 bitcoins at “an aggregate purchase price of $250 million, inclusive of fees and expenses.”

The company said that it had adopted Bitcoin as a “primary reserve asset” as part of its capital allocation strategy which involved investing a significant amount of its holdings in alternative investments.

Michael J. Saylor, CEO, MicroStrategy Incorporated, explained that his firm’s investment in Bitcoin is part of its strategy that aims to “maximize

Read More Here...

BitGo CEO Recommends Allocating 3% of Portfolios to Bitcoin, as Nasdaq Listed Firm Acquires $250 Million in BTC as its “Primary Reserve Asset”

Mike Belshe, the CEO at BitGo, a Palo Alto, California-based digital asset trust and security firm offering a multi-signature Bitcoin (BTC) wallet service, recently noted that many companies are now going out of business due to challenges related to COVID-19.

Belshe points out that there doesn’t appear to be an end in sight, even after being six months into the pandemic. He believes that small businesses with leases will begin to default at this time, and the “paltry” $600 per week for each person of unemployment money will “look like chump change” when compared to what the government will have to spend to “prevent the next wave of carnage.”

Belshe claims or argues that the US government is “being forced to maintain lockdowns for political correctness, which will force them to print money even faster.”

He adds:

“Institutional investors are flagging this and recognize the devaluation will make cash hard to hold. They’re looking for alternatives, and it comes down to Bitcoin and gold.  If you don’t have some Bitcoin now, it is time to put at least 3% of your net worth into Bitcoin. This is the lowest risk, highest asymmetric upside investment you will likely see in your lifetime. Or stop the lockdown. But still get Bitcoin.”

On August 11, 2020, MicroStrategy Incorporated (Nasdaq: MSTR), a major independent publicly-traded business intelligence firm, revealed that it had acquired 21,454 bitcoins at “an aggregate purchase price of $250 million, inclusive of fees and expenses.”

The company said that it had adopted Bitcoin as a “primary reserve asset” as part of its capital allocation strategy which involved investing a significant amount of its holdings in alternative investments.

Michael J. Saylor, CEO, MicroStrategy Incorporated, explained that his firm’s investment in Bitcoin is part of its strategy that aims to “maximize

Read More Here...

BitGo CEO Recommends Allocating 3% of Portfolios to Bitcoin, as Nasdaq Listed Firm Acquires $250 Million in BTC as its “Primary Reserve Asset”

Mike Belshe, the CEO at BitGo, a Palo Alto, California-based digital asset trust and security firm offering a multi-signature Bitcoin (BTC) wallet service, recently noted that many companies are now going out of business due to challenges related to COVID-19.

Belshe points out that there doesn’t appear to be an end in sight, even after being six months into the pandemic. He believes that small businesses with leases will begin to default at this time, and the “paltry” $600 per week for each person of unemployment money will “look like chump change” when compared to what the government will have to spend to “prevent the next wave of carnage.”

Belshe claims or argues that the US government is “being forced to maintain lockdowns for political correctness, which will force them to print money even faster.”

He adds:

“Institutional investors are flagging this and recognize the devaluation will make cash hard to hold. They’re looking for alternatives, and it comes down to Bitcoin and gold.  If you don’t have some Bitcoin now, it is time to put at least 3% of your net worth into Bitcoin. This is the lowest risk, highest asymmetric upside investment you will likely see in your lifetime. Or stop the lockdown. But still get Bitcoin.”

On August 11, 2020, MicroStrategy Incorporated (Nasdaq: MSTR), a major independent publicly-traded business intelligence firm, revealed that it had acquired 21,454 bitcoins at “an aggregate purchase price of $250 million, inclusive of fees and expenses.”

The company said that it had adopted Bitcoin as a “primary reserve asset” as part of its capital allocation strategy which involved investing a significant amount of its holdings in alternative investments.

Michael J. Saylor, CEO, MicroStrategy Incorporated, explained that his firm’s investment in Bitcoin is part of its strategy that aims to “maximize

Read More Here...