Podcast: New crypto calamity. US equity momentum pivotal.
Saxo Market Call
Summary: Today we look at another weak session for global equities and not least, for the cryptocurrency space, were this latest bout of selling has reached deeper and wider than prior episodes, with thin excuses for the proximate cause of the selling. For Bitcoin, we identify key technical next steps, as we do for the US S&P 500, both in terms of the local pivot and whether momentum will suffer a further breakdown from these pivotal levels. Comments on Home Depot, the semi-conductor shortage, a possibly oversold USDCAD, the new highs in EURUSD and more on the call. Today's pod with Peter Garnry on equities and John J. Hardy hosting and on FX.
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