Category: Finance
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Pubcos extending warrants as summer drags on, hoping for cash injection in months ahead
Canadian-listed, German-based bioscience accelerator BioNxt (BNXT.C) has announced it plans to give warrant holders an additional year to exercise 2022-purchased $0.50 warrants of the company, as its stock steadily climbs up from a low of $0.20 to $0.305 over the past week. BioNxt is going through an FDA trial process on a new oral film…
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Bitcoin break sounds alarm for stock markets
In mid June, I wrote an article highlighting the important zones of play for Bitcoin. The major zones being $71,466 to the upside, and $61,832 to the downside. The chart above shows the price action of Bitcoin at that time. It was Fed week, and Bitcoin was bouncing at the interim support zone. In that…
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Japanese $62 billion currency intervention FAILS
After months of speculation from currency traders, the Bank of Japan confirmed that they did a currency intervention to strengthen the falling Japanese Yen. The Bank of Japan confirmed its first currency intervention since 2022 with $62 billion being used to prop the Yen between April 26th 2024 and May 29th 2024. Here was the…
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Bitcoin bounces at key support ahead of Fed decision.
This article will provide an update on the current technical set up on Bitcoin. Before we jump into the charts, let’s talk about some headlines making their way around mainstream financial media. The world’s largest cryptocurrency dropped to a one week low as traders and investors awaited CPI and the Fed decision. CPI for the…
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Stock Markets and Gold shaky as bond yields rise
Besides Nvidia carrying the Nasdaq, the other major US indices have been a bit shaky. We will jump into the charts below. And as usual, the prime suspect is the action in the bond markets. Of course this has a lot to do with the Federal Reserve and interest rate cuts. At time of writing,…
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Stock Markets rise after weaker employment data
It was eventful last week with the FOMC rate decision and US NFP (employment data). And I apologize, but once again this is all about the most important question and narrative driving financial markets: will the Fed cut rates soon? Let’s start off with the FOMC meeting. On May 1st 2024, the Fed kept rates…
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Are stock markets about to crash hard?
At time of writing the US stock markets are green for the day in an attempt to end four red days in a row. However, the green is slowly dissipating with a sell off. In fact, the Nasdaq has already gone red. My readers know that I like to rely on technicals. We will get…
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Bitcoin bulls beware! Topping pattern to trigger more downside?
You know I was hoping to enjoy this weekend off from charts, but I could not help myself. Many traders, even just for curiosity, had their eyes glued on the bitcoin chart given the Israel-Iran tensions over the weekend. Before the markets closed for the weekend, they did sink as the Iranians said they were…
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Stocks sink as yields hit 2024 highs on rate cut bets cooling
In Q1 2024 everything was moving up on interest rate cut bets. Q2 2024 has started off sour. It seems rate cut hopes keep getting pushed down further. The 10 year treasury yield is rising as bets on the June rate cuts cool down. The market is still expecting a 62% chance of a cut…
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Bank of Japan raises interest rates for the first time in 17 years
By gawd they did it. They actually did it. The Bank of Japan (BOJ) has finally raised interest rates for the first time in 17 years. Ending the world’s only negative rates regime. Truly a historic pivot. The BOJ raised its short-term interest rates to around 0% to 0.1% from -0.1%. The BOJ also announced…
