Monday’s close delivered the week’s most interesting result: the markets didn’t agree on anything — except that the US dollar story has fractured beyond recognition. Sterling closed at 1.3407 after touching 1.3448 — its highest level since August, completing a break above the 1.3440 supply zone that had capped it for two months. The euro, […]
The most important level in the stock market held — barely, and exactly on time. The S&P 500 fell to 7,539.38 in Monday’s session before recovering to close at 7,541.40, down 0.5% but — critically — above Friday’s crash low of 7,527.56. The second defense of the level that Friday’s liquidation established is underway, and […]
Weekend edition: the scenario this column sketched as the bear case on Thursday has arrived on schedule, and the only question left is where it ends. Bitcoin spent the weekend grinding between $77,000 and $78,300, closing Saturday at $77,435 and Sunday at $78,248 — a feeble bounce that, so far, changes nothing. The token is […]