“The VIX is trading at the lowest levels since the S&P 500 hit its standing all-time high in the early days of 2022,” Tom Essaye, founder of Sevens Report Research, said. “It will be hard to believe the market is poised to casually cruise towards new record highs from here,” he added. “I.e., the bottom of the bear market is not in.” Click here to read the full article.
“Reaching peak hawkishness is one of our three keys to a bottom, and the most important one, so if the Fed has reached peak hawkishness that’s a powerful positive to consider,” Tom Essaye, founder of Sevens Report Research, wrote in a note Monday. Click here to read the full article.
“We remain in a liquidation phase of the market cycle during which more sophisticated, institutional investors are selling their long-term equity holdings,” Tom Essaye, founder of Sevens Report Research said. Click here to read the full article.
Bitcoin’s moves definitely follow the market. There’s no question, and that’s been especially true on days when the market has been down a lot, Tom Essaye, founder of Sevens Report Research, told Barron’s. Click here to read the full article.
What’s in Today’s Report:
Futures are slightly lower following a busy night of mixed earnings reports and ahead of today’s ECB decision.
Politically, Italian PM Draghi formally resigned and there will be elections in Italy this fall, which is adding to general macro-economic uncertainty.
Earnings overnight were mixed although TSLA posted solid results and the stock rallied 3% after hours.
Today will be a busy day for economic data and earnings and the key event is the ECB Decision. A 25 bps hike is expected although a 50 bps hike is very possible. From a stock standpoint, markets will be hoping for a 50 bps hike because that will boost the euro and weigh on the dollar (the dollar being this high is a problem for U.S. corporate earnings). Outside of the ECB we also get Jobless Claims (E: 240K) and Philadelphia Fed (E: -3.3).
On the earnings front, results continue to roll in and so far this season they are decidedly mixed (not good, but not materially worse than feared, either). Some results we’re watching today include: T ($0.59), FCX ($0.80), UNP ($2.38), COF ($5.09).
Bitcoin is much more of a momentum and risk-driven asset than it is the independent store of value that people want it to become, it’s not there yet…said Tom Essaye, a former Merrill Lynch trader who founded The Sevens Report newsletter. Click here to read the full article.
The losses quickly spread to broader markets as experts started warning its default could…market analyst Tom Essaye, author of the Sevens Report, wrote in a note last week. Click here to read the full article.
The Sevens Report Research founder Tom Essaye said that Bitcoin needs to have more widespread legitimate adoption for… Click here to read the full article.
In order for Bitcoin to resume that rally, I think you’re going to need to see more widespread…said Tom Essaye, a former Merrill Lynch trader. Click here to read the full article.
Bitcoin is always going to be volatile and the manic run-up we had was never sustainable. The question is…said Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
