Dec 2, 2022
Bespoke’s Crypto Report contains numerous technical, momentum, and sentiment charts for bitcoin, ethereum, and other key cryptos. Page 1 of the report includes our weekly commentary on the space and attempts to identify any new trends that are emerging. The remaining pages include important overbought/oversold levels to watch, charts on historical drawdowns and rallies, seasonality trends, futures positioning data, Google search trend shifts, and more. Our weekly Crypto Report is produced so that followers of the space can more easily stay on top of price action, technicals, seasonality, and sentiment.
Sign up for a monthly or annual subscription to Bespoke Crypto to receive our weekly Crypto Report and anything else we publish related to cryptos. Note: If you’re currently a Bespoke Premium, Bespoke Newsletter, or Bespoke Institutional subscriber, you’ll need to subscribe to Bespoke Crypto as an add-on to receive access. The weekly Crypto Report and any additional crypto analysis is not included with our Premium, Newsletter, or Institutional memberships. You can sign up for Bespoke Crypto and receive our Crypto Report in your inbox weekly using the monthly or annual checkout links below. If you sign up for the annual plan, the first year of access is 50% off!
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Dec 2, 2022
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium. CLICK HERE to learn more and start your trial.
“The indictment, in a lot of ways, that was the turning point.” – Jeffrey Skilling
Below is a snippet of content from today’s Morning Lineup for Bespoke Premium members. Start a two-week trial to Bespoke Premium now to access the full report.
History has a way of repeating itself, and just as the FTX bankruptcy is all anyone can talk about these days, it was 21 years ago today that Enron filed bankruptcy, and it was 14 years ago this month that the Madoff Ponzi scheme broke. There’s something about December and bear markets! The only difference between FTX and the Enron and Madoff scandals is that back then the masterminds of the scandals weren’t doing everything they could do to get in front of a camera, and the media wasn’t obliging them. As they say in show biz, though, any publicity is good publicity.
In any discussion of the economy these days, economists typically cite employment as an area of strength, and rightly so. When many other sectors of the economy are contracting or simply stalled out, people look for bright spots. At 3.7%, the Unemployment Rate and jobless claims are at the low end of their historical ranges, and the number of job openings in the JOLTS report is still 2.5 million above its pre-COVID peak. That’s the good news.
Less positive is the fact that momentum in US employment is clearly weakening. We saw it yesterday with Continuing Jobless Claims which are up over 20% in the last six months. Even the JOLTS report, which showed levels of job openings well above their pre-COVID peak, is still down 1.5 million from its high this March.
Today’s employment report will show another example of the labor market losing steam. Economists are forecasting Non-Farm Payrolls to 200K during the month of November, and any reading below last month’s level of 261K will be the weakest monthly reading since the end of 2020. The trend is clearly lower as the three-month average has been steadily trending lower all year.
The weaker momentum within the employment sector also comes as workers are making less. For nearly two years now, wage growth hasn’t been enough to even keep up with inflation. Over the last two years, y/y wage growth adjusted for inflation has declined at an average rate of just over 1%, and November’s report will be the 20th straight month that the reading was negative. And this is the good news!
Our Morning Lineup keeps readers on top of earnings data, economic news, global headlines, and market internals. We’re biased (of course!), but we think it’s the best and most helpful pre-market report in existence!
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Dec 1, 2022
Log-in here if you’re a member with access to the Closer.
Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin tonight with a look at the dollar breaking its streak above its 200-DMA (page 1) followed by a review of layoff announcements (page 2). Next, we provide a rundown of the latest personal income and spending data (page 3) as well as the ISM and S&P Global readings on the manufacturing sector (page 4). We finish with a dive into housing inventories (pages 5 and 6).
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