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Fire & Fury

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Hi Everyone,

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Global stock markets are in a bit of a tizzy this morning. The recent escalations between the USA and DPRK seem to be a bit more than your average sticks and stones name calling between international leaders.

Though the stocks have been largely able to ignore this issue as remote for the past few years it does seem that a bit of reality is interrupting the day to day euphoric stock buying cycle. By no means are we in a bear market. The stocks are doing exceptionally well in so far in August.

However, there are some telltale signs of fear creeping into the global financial picture. Let’s take a look…

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Please note that by popular demand, political opinions will be kept out of today’s update. The pissing match between Donald Trump and Kim Jong Un is not the issue being discussed.

@MatiGreenspan
eToro, Senior Market Analyst

Today’s Highlights

Missiles at Guam

Volatility Up

Gold up

Crude Oil Today

RBNZ Tonight

U.S. Inflation on Friday

Awesome Ethereum

Please note: All data, figures & graphs are valid as of August 9th. All trading carries risk. Only risk capital you can afford to lose.

First, let’s start with the obvious.

Volatility Is Up

The VIX, volatility index spiked yesterday to it’s highest level this month and closed above 11 points. Not a historical high or anything, just a break from the lower volatitliy theme that’s been prevalent lately.

Stocks Are Not

The Dow Jones has been on a serious winning streak lately. The past 10 sessions have all ended in green taking us ever deeper into record high territory. Just the fact that it ended the day with a negative number yesterday is notable even if that number was just 0.15%.

The declines in Asia today are a lot less tame. With North Korea being closer to home, the Nikkei 225 in Japan is down 1.29% today and the China 50 is down 0.56% so far today, not bad for a country that doesn’t allow short selling.

Gold is up today as well. So far gaining more than half a percent today. A clear indication that at least somebody is getting nervous. But the main place that we can see the fear playing out is in the…

Currency Markets

Here, take a look…

Usually, the Australian Dollar has a strong correlation with the commodity markets since most of their exports are commodities. So seeing it this far down on a day when the commodities are up is more than a bit odd.

The Japanese Yen gaining more than a half a percent since the beginning of the day tells us that Asian investors are indeed nervous.

The kicker of course is the Swiss Franc. An upward movement of nearly 1% tells us that something is definitely wrong.

For those of you looking for extreme volatility, take a look at the AUDCHF, which is looking at its biggest single day movement since Trump’s election (white circle).

Crypto Doesn’t Care

…or maybe it does.

The total market cap of all cryptocurrencies is at a record high of $123 Billion this morning.

As we can see, the South Korean exchange bithumb is responsible for more than 17% of today’s volume, more than both of the next two exchanges combined.

The real winner today is Ethereum, which is up above $300 again making for a 10% gain in the last 24 hours and 50% since the start of the month.

Wishing you an amazing day ahead!!

This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.

The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.

Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose.

Featured image from Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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1 Comment

1 Comment

  1. Inverstor Clouseau

    August 9, 2017 at 12:28 pm

    That etherium entry call was on point

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Cryptocurrencies

Trade Recommendation: Qtum

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The price of Qtum has bounced from the support zone formed by the 0.035000 support level and Senkou B line of the Ichimoku indicator. The DMI confirms trend market conditions and allows opening long trades. We have a trading opportunity. Pending orders for buy should be placed at 0.037800 level with stop orders at 0.034000 level. The main profit target is 0.050000 level. The part of trade volume can be left for the long run. If you don’t use leverage, the recommended trading volume for this trade is up to 5% from your deposit.

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Market: QTUMETH
Buy: 0.037800
Stop: 0.034000
Profit Targets: 0.050000

The trading signal is based on Bittrex chart.   

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Analysis

Long-Term Cryptocurrency Analysis: Bitcoin Outshines Altcoins Again

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The most valuable coin had another encouraging week, as it emerged from a brief but violent correction, just to reach new highs towards the end of the week, draining capital from altcoins. The total value of the market is stagnating near the all-time high, but BTC crossed the $100 billion mark as it surged past the $6000 price level, controlling 58% of the market.

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With the long-term MACD clearly being overbought, and as the long-term target has been hit, investors should now be looking for exit points, even as the short-term uptrend is intact. The range projection target of the recent correction is found at $7000, but correction risks are already high, and only small positions should be kept in the current setup.

BTC/USD, Daily Chart Analysis

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Most of the major altcoins are trading in narrow ranges this weekend after a slightly bearish week, as the optimism surrounding Ethereum’s major update faded and the second largest coin re-entered its previous range.

Litecoin, Dash, and Monero are still looking encouraging despite the lengthy correction, while the recently, while the relatively weak Ethereum Classic IOTA continue to show worrying signs. As the Bitcoin long trade is getting stretched,  let’s see the how the daily charts of the altcoins are shaping up.

(more…)

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Cryptocurrencies

Trade Recommendation: Waves

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The market moved lower and we have to search for a new trading opportunity. Now we have a possible support zone at 0.000600 level. RSI confirms price reversal. MACD histogram supports the upward movement. Bullish divergence gives a trend reversal signal. We have a new high which can be used for placing buy orders. Entry level is 0.000720 with stop orders at 0.000550 level. Profit targets are 0.001000 and 0.001300 levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Market: WAVESBTC
Buy: 0.000720
Stop: 0.000550
Profit Targets: 0.001000 and 0.001300

The trading signal is based on Bittrex chart.  

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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