Bespoke’s Crypto Report — 10/14/22
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!
Bespoke Crypto Access — Monthly Payment Plan ($49/mth)
Bespoke Crypto Access — Annual Payment Plan ($247.50 for the first 12 months, then $495/year in year 2 and beyond)
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.
The Closer – Engulfed By CPI – 10/13/22
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 incredibly rare engulfing candle for the S&P 500 today (page 1). We follow up with a deep dive into the latest CPI print (page 2 and 3) as well as the market reaction (page 4). With earnings season beginning in earnest, we then show the most volatile stocks on earnings (page 5) followed by a recap of today’s EIA data (page 6) and 30 year bond reopening (page 7).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Bespoke’s Weekly Sector Snapshot — 10/13/22
This content is for members onlyHurricane Claims Come In
Last week’s jobless claims number went unrevised whereas the latest week’s data rose by 9K up to 228K. That brings the seasonally adjusted number back up to the highest level since the end of August and was the first back-to-back increase since the first week of August.
On a non-seasonally adjusted basis, claims remain a hair below 200K and in line with the readings from the comparable weeks of the year in the few years before the pandemic. We would also note that the increase in claims at this point of the year is very much a regular occurrence.
Turning to continuing claims, the latest print for data through the end of September saw a modest 3K increase to 1.368 million. That is only the highest level in three weeks as the indicator remains well below pre-pandemic levels, unlike initial claims.
On a national level, claims are moving higher but it is perhaps too early to say we are in a new trend as opposed to things like seasonality and one-off events like the weather. While 80% of states and territories saw claims move higher this week, a large share of the national move was concentrated in the Southeast likely as a result of Hurricane Ian. In the table below, we show the state-level readings for initial and continuing claims (NSA). Roughly a third of the national move in claims was thanks to claims in Florida more than tripling week over week. Now, initial claims in that state are at the highest level since May of last year. That was matched with a significant pickup in continuing claims as well. Although they have a smaller impact on national claims, other hurricane-impacted areas like Puerto Rico also saw a significant uptick in initial claims. Click here to learn more about Bespoke’s premium stock market research service.
