Back to www.cobrasmarketview.com

   

06/21/2021 Live Update

Re: 06/21/2021 Live Update

Postby Al_Dente » Mon Jun 21, 2021 10:42 am

The week after triple-witching
Proceed with caution
https://jeffhirsch.tumblr.com/post/6543 ... e-weakness
User avatar
Al_Dente
 
Posts: 26072
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/21/2021 Live Update

Postby Al_Dente » Mon Jun 21, 2021 10:43 am

The eleven sectors, intraday
Coincidently, the top four today are our "FOUR HORSEMEN OF A RECOVERY"

621sectors.png.jpg
User avatar
Al_Dente
 
Posts: 26072
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/21/2021 Live Update

Postby JFR » Mon Jun 21, 2021 10:58 am

https://www.cnbc.com/2021/06/21/bitcoin ... kdown.html

2021-06-21_07-51-11.png


Many bitcoin mines in Sichuan were shuttered Sunday after authorities in the southwestern Chinese province ordered a halt to crypto mining, according to a report from the Communist Party-backed newspaper Global Times. More than 90% of China’s bitcoin mining capacity is estimated to be shut down, the paper said.

Bloomberg and Reuters also reported on the move from Sichuan authorities. It follows similar developments in China’s Inner Mongolia and Yunnan regions, as well as calls from Beijing to stamp out crypto mining amid worries over its massive energy consumption.


China’s crackdown appears to have led to a significant decline in bitcoin’s hash rate — or processing power — which has fallen sharply in the last month, according to data from Blockchain.com. An estimated 65% of global bitcoin mining is done in China.


Bitcoin’s network is decentralized, meaning it doesn’t have any central party or middleman to approve transactions or generate new coins. Instead, the blockchain is maintained by so-called miners who race to solve complex math puzzles using purpose-built computers to validate transactions. Whoever wins that race is rewarded with bitcoin.

This power-intensive process has led to growing concerns over the potential environmental harm of bitcoin, with everyone from Tesla CEO Elon Musk to U.S. Treasury Secretary Janet Yellen raising the alarm. China, where most bitcoin mining is concentrated, relies heavily on coal power. Last month, a coal mine in the Xinjiang region flooded and shut down, taking nearly a quarter of bitcoin’s hash rate offline.


Not that I have an interest in bitcoin as an investment or speculation, but it is happening. Were environmental concerns taken into account at its inception? I doubt it.
User avatar
JFR
 
Posts: 5946
Joined: Sun Dec 02, 2012 7:24 pm

Re: 06/21/2021 Live Update

Postby JFR » Mon Jun 21, 2021 11:07 am

Currencies. Back later ...


2021-06-21_08-05-57.png
User avatar
JFR
 
Posts: 5946
Joined: Sun Dec 02, 2012 7:24 pm

Re: 06/21/2021 Live Update

Postby Cobra » Mon Jun 21, 2021 11:13 am

The pullback will be bought.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 50348
Joined: Sat Feb 12, 2011 10:29 pm

Re: 06/21/2021 Live Update

Postby Al_Dente » Mon Jun 21, 2021 11:14 am

INTERNALS:
Third panel: AD Breadth is VERY strong today, after many days of sub-par participation

621int.png.jpg
User avatar
Al_Dente
 
Posts: 26072
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/21/2021 Live Update

Postby JFR » Mon Jun 21, 2021 11:52 am

From AutoChartist

oanda.autochartist.com


2021-06-21_08-49-41.png
User avatar
JFR
 
Posts: 5946
Joined: Sun Dec 02, 2012 7:24 pm

Re: 06/21/2021 Live Update

Postby JFR » Mon Jun 21, 2021 12:12 pm

Leaders on the Dow.

Break time ...


2021-06-21_09-11-16.png
User avatar
JFR
 
Posts: 5946
Joined: Sun Dec 02, 2012 7:24 pm

Re: 06/21/2021 Live Update

Postby Cobra » Mon Jun 21, 2021 12:18 pm


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 50348
Joined: Sat Feb 12, 2011 10:29 pm

Re: 06/21/2021 Live Update

Postby BullBear52x » Mon Jun 21, 2021 12:39 pm

Buy, both dip and MA support buy setup, need to see new HH from here.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
 
Posts: 25476
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/21/2021 Live Update

Postby BullBear52x » Mon Jun 21, 2021 1:58 pm

ways over bought now. sitting out.
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
 
Posts: 25476
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/21/2021 Live Update

Postby BullBear52x » Mon Jun 21, 2021 2:15 pm

$BP, not all exciting. tomorrow bulls must work on pushing hard, or this will just turn into one day wonder.
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
 
Posts: 25476
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/21/2021 Live Update

Postby Al_Dente » Mon Jun 21, 2021 3:09 pm

FEAR: Fed may tighten policy sooner than expected. [BofA: “Expect the Fed to soon begin tapering its [quantitative easing] purchases, and to start hiking interest rates earlier than expected – and most importantly much faster than currently priced in markets” ]

REALITY: 16 fed speakers this week starting with congressional testimony from Powell tomorrow.
User avatar
Al_Dente
 
Posts: 26072
Joined: Thu Jul 21, 2011 2:29 pm

Re: 06/21/2021 Live Update

Postby BullBear52x » Mon Jun 21, 2021 3:13 pm

Daily buy dip trigger today. Peace!
Attachments
1.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
User avatar
BullBear52x
 
Posts: 25476
Joined: Tue Feb 22, 2011 3:47 pm

Re: 06/21/2021 Live Update

Postby Cobra » Mon Jun 21, 2021 3:43 pm


Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 50348
Joined: Sat Feb 12, 2011 10:29 pm

Re: 06/21/2021 Live Update

Postby Cobra » Mon Jun 21, 2021 3:57 pm

Well, guess that's it for today. Here's what Tuesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449374

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
 
Posts: 50348
Joined: Sat Feb 12, 2011 10:29 pm

Previous

Return to Traders Lounge

Who is online

Users browsing this forum: Google [Bot], Google Feedfetcher and 11 guests