The Everything Bubble: Markets At A Crossroads – Bitcoin Magazine

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Powell’s speech and the ISM PMI Agreement

We want to zoom in and review the broader macroeconomic picture and analyze some of the latest data released this week, which will have a heavy impact on market direction over the next few months.

After the speech by Jerome Powell of the Brookings Institution, it is clear that the markets are cautiously prepared to go higher with any story and possible fundamental scenario of the Federal Reserve. There is also hedging, short positions, options market dynamics and forced buying. It’s beyond our expertise to say exactly why the market is exploding with confusion over any given data point or Powell’s new speech. However, these types of events and market movements are almost always a sign of unhealthy trends and increased bear markets. Despite more talk from Powell that nothing new was actually said, the markets perceived his comment about the concern of raising the rate of speech as more “dovish”. However, if this is another bear market rally taking shape for the major indices, we look to be close to that rally turning around again.



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