|Day Low/High||8.63 / 8.79|
|52 Wk Low/High||3.66 / 17.40|
Despite the trade war with China and the upcoming Fed meeting, it was detachment in the end that likely bogged down trading on Monday.
Not even dip-buying could save Monday as concerns lingered over a looming Fed rate decision following good jobs news and over reports in Chinese press of a lack of trade progress.
There has been some correlation lately between gold and bitcoin.
The S&P 500 and the iShares Russell 2000 Index broke a four-day losing streak as market players didn't seem to care about, or expect, a resolution on the trade war between China and the U.S.
Its price is determined by emotion more than anything else.
With lackluster indexes, traders were drawn to wild action in bitcoin.
AbbVie is dropping on Allergan deal announcement, momentum is weak outside certain pockets.
Gold continues to ramp higher and bitcoin is starting to act like it did back in December 2017.
Boeing put wings under the Dow, but rotation is continuing to take a toll.
The one name I feel has the best fundamental argument is Overstock.
Seldom do we have an opportunity to watch a bubble in real time.
There is nothing driving a major market shift, so if you want to be active, focus on individual stocks.
AML Bitcoin is the latest development among rapidly changing cryptocurrencies.