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Equities And Cryptos: Vacillation And Reversal

Published 01/17/2018, 12:30 PM
Updated 07/09/2023, 06:31 AM

Tuesday’s sharp and unexpected selloff in equities has, as required by federal statute, largely reversed. Hopefully in a week when earnings season kicks in full-blast, we’ll get some more fundamentally based direction that sticks as opposed to all this zany “will the government shut down” nonsense. In any case, it’s a bizarre funhouse ride so far:

S&P 500

More consistent is the world of cryptos, which has had a steady direction down. I took this snapshot early Wednesday, but as I glance at my screen now, bitcoin is cleanly below the psychologically important $10,000 level, as opposed to just tapping it here.

Bitcoin

It was just a couple of months ago when we were inundated with this kind of stuff, wasn’t it?

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