Bitcoin has been making news over the last couple of weeks. A large surge was seen after Elon Musk announced Tesla plans to accept bitcoin. Tesla bought $1.5 billion bitcoin.

 

Then there was the introduction of a new Bitcoin ETF, Purpose BTCC.

 This week also brought an unusual winter storm URI to Texas. Texas is now examining the problems that brought power issues, such as rolling blackouts and lack of water. 

 

It's time to look at energy by viewing the XLE chart. I think it is in Stage 1. The moving average line is starting to slope upward. I expect that when we recover from COVID, energy prices will rebound from the big plunge they took last year.

 

 

 For more reading on energy, I recommend these articles on Stockcharts:

• The Nightmare of Capital Efficiency
• Is Oil Just Getting Started
  

 

 

Stock Market Update: December 25, 2020

 The market continues to go full steam ahead. All indicators are green.

Cryptocurrencies are also doing well. Bitcoin stockcharts link.

Appears to be in stage 2 or stage 3.

 

COVID vaccines are being distributed worldwide and the hopes are that we can start to get back to normal in the spring.

 

Stock Market Update: November 20, 2020

The markets are remaining positive and gold is showing signs of moving into stage 3. The moving average line is still on an uptrend however the weekly end is sloping down. This week brought news of multiple COVID-19 vaccines and some hope. Both
Pfizer/BioNTech and Moderna announced positive results.

Bitcoin is seeing new highs.

Stay frosty!

Market Update: Trade Truce

The market appears to be in stage 1. Over the weekend, China and the US called a trade truce. 

Bitcoin made a big rebound in May and is not back up over 11,000 after a big swing to 13,000 and another big drop. Facebook wants in on the game and has announced it will offer its own cyrptocurrency, Libra. What could go wrong?