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Thursday, March 28, 2024

Stocks Soar To Most-Overbought In 22 Years But Bitcoin Futures Debut Dominate

Courtesy of ZeroHedge. View original post here.

Bitcoin futures are here…

Small Caps and Trannies were today’s biggest losers as Nasdaq led…

The S&P 500 has not been this overbought since 1995…

VIX briefly topped 10 after the NYC bomb explosion…but was clubbed into the close..

Utes ramped oddly in the afternoon but Energy stocks and Tech were best…

High-Tax stocks underperformed Low-Tax stocks…

But while some were paying attention to stocks, most eyes were glued to Bitcoin futures…

And as Bitcoin futures outperformed spot, bitcoin spot continued to outperform gold dramatically…

With Bitcoin soaring to a record high over $17,250 as gold dropped 0.5% today…

But it’s also worth noting that as Gold futures legged lower so Bitcoin futures was modestly bid

Away from ‘virtual’ currencies, the dollar (another faith-based currency) managed to rally back to unchanged after some early weakness…

Treasury yields were all higher on the day with the short-end underperforming…

Which meant the yield curve flattening continues…

Despite an unchanged day in the dollar, PMs were slammed and Crude and copper bid…

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