Business
For data visualization, please use the links below or follow us on Twitter @DegenerateBizIn Equities:The jobs report disappoints, which is utterly meaningless for the inexhaustible rally of the S&P. For all rests on the great taper. Leading the way is the Nasdaq, with QQQ approaching overbought territory. Maybe a correction is in the offing, but recent history suggests we're only in for a speed bump as Tech melts up (chart 1).Meanwhile, the US 10 year yield moves sideways. Nothing to report there (chart 2).On another note, the VIX approaches the bottom of its recent channel (chart 3). What are the implications for long-date call options?In Crypto:But all eyes turn to the logarithmic return of Ethereum (chart 4), which has now busted through all Fibonacci sequences to ~$3,900+. Not only that, the price action suggests a broader allocation away from Bitcoin into Ethereum in pursuit of yield. Having left $1,800 ETH on the floor, we're content to watch the rally play out.But there is still joy for Bitcoin, which has raked above 50k once again. In the Altcoin zone, would-be Ethereum killer Solana explodes. Why? Maybe James knowsBut I ask the big question, which is...are equities a waste of time next to Crypto (chart 5)?Charts:QQQhttps://www.tradingview.com/x/qgSL0TR5/US10Yhttps://www.tradingview.com/x/3tzGp0jd/VIXhttps://www.tradingview.com/x/5IIlHuJ8/ETHUSDhttps://www.tradingview.com/x/Mnwj1dO5/TQQQ (3x leveraged Nasdaq 100) vs ETH vs BTChttps://www.tradingview.com/x/LKjepu5J/