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Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 10:42 am
by Al_Dente
The week after triple-witching
Proceed with caution
https://jeffhirsch.tumblr.com/post/6543 ... e-weakness

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 10:43 am
by Al_Dente
The eleven sectors, intraday
Coincidently, the top four today are our "FOUR HORSEMEN OF A RECOVERY"
621sectors.png.jpg

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 10:58 am
by JFR
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.

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 11:07 am
by JFR
Currencies. Back later ...

2021-06-21_08-05-57.png

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 11:13 am
by Cobra
The pullback will be bought.

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 11:14 am
by Al_Dente
INTERNALS:
Third panel: AD Breadth is VERY strong today, after many days of sub-par participation
621int.png.jpg

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 11:52 am
by JFR
From AutoChartist

oanda.autochartist.com

2021-06-21_08-49-41.png

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 12:12 pm
by JFR
Leaders on the Dow.

Break time ...

2021-06-21_09-11-16.png

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 12:18 pm
by Cobra

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 12:39 pm
by BullBear52x
Buy, both dip and MA support buy setup, need to see new HH from here.

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 1:58 pm
by BullBear52x
ways over bought now. sitting out.

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 2:15 pm
by BullBear52x
$BP, not all exciting. tomorrow bulls must work on pushing hard, or this will just turn into one day wonder.

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 3:09 pm
by Al_Dente
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.

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 3:13 pm
by BullBear52x
Daily buy dip trigger today. Peace!

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 3:43 pm
by Cobra

Re: 06/21/2021 Live Update

Posted: Mon Jun 21, 2021 3:57 pm
by Cobra
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