Dec 23, 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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Bespoke Investment Group, LLC believes all information contained in this service to be accurate, but we do not guarantee its accuracy. None of the information in this service or any opinions expressed constitutes a solicitation of the purchase or sale of any securities, commodities, or cryptocurrencies. This service contains no buy or sell recommendations. This is not personalized advice. Investors should do their own research and/or work with an investment professional when making portfolio decisions. As always, past performance of any investment is not a guarantee of future results. Bespoke representatives or clients may have positions in securities discussed or mentioned in its published content.
Dec 22, 2022
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we start out tonight with a glance at performance in the final trading days of the year (page 1). We follow up with a rundown of the latest macro data including a review of the latest GDP print (page 2), an update of our Five Fed Composite (page 3), and the big drop in leading indicators (page 4).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Dec 22, 2022
The past few weeks had been uneventful when it comes to the AAII’s weekly reading on investor sentiment. As we noted last week, the three-week range that bullish sentiment occupied had reached a record low hovering between 24.3% and 24.7%. In the latest release, sentiment finally moved but not in the most promising direction. Bullish sentiment dropped 4 percentage points down to 20.3% this week to make for the lowest reading since the end of September.
With a decline in neutral sentiment as well, all of the increase went to bears with that reading rising to the highest level and back above 50% for the first time since late October.
As a result of the large inverse moves of the two sentiment readings, the bull-bear spread shows a dramatic tilt towards an even more pessimistic bias with bears outnumbering bulls by 32 percentage points. That is the widest spread since the week of October 20th and lower than most of the past decade’s range.
With yet another week of bears outnumbering bulls, the record streak of negative readings in the bull-bear spread has grown to 38 weeks long; a full month longer than the previous record ending in October 2020. Historically, investor sentiment has acted as a contrarian indicator meaning low readings on optimism have typically been followed by stronger returns for the S&P 500. This time around, sentiment and prices have given each other little reason to turn around.
In an earlier post, we noted how there has not even been a single week this year in which bullish sentiment has been above the historical average of 37.6%. Taking another look at just how depressed sentiment has been, the average bullish sentiment reading in 2022 has been less than 25%. The only years that had come close to such a low reading were 1988 (27.29%) and 1990 (27.08%). Playing into that low average has been the fact that there have been a record 30 weeks this year with bullish sentiment coming in below 25%. Meanwhile, bearish sentiment has averaged 46.17% this year, slightly above the previous record of 45.2% in 2008. With bearish sentiment tipping back above 50% once again this week, there have now been 17 weeks with such an elevated reading, tying the record from 2008 with one week to go. Click here to learn more about Bespoke’s premium stock market research service.
Dec 21, 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 start out tonight with a look at the moves in credit markets, the VIX, ags, and FX (page 1). We then dive into the latest inflation numbers from Canada (page 2) as well as the US current account (page 3). Next, we provide a review of the latest CFO survey (page 4) followed by recaps of today’s 20 year bond reopening (page 5) and EIA petroleum stockpile data (page 6).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
