Aug 26, 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!
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.
Aug 25, 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 what Blackstone’s (BX) announcement regarding home purchases implies for housing activity as well as a look at today’s Fedspeak (page 1). We then update GDP contributions with the second update of the Q2 release (page 2). We take more granular looks at inventories and corporate profits (page 3) as well as the discrepancy between GDP and GDI (page 4). Next, we take a look at freight rates and trade volumes (page 5) before turning to the latest update of our Five Fed Manufacturing Composite (page 6). We finish with a look into today’s historically strong seven year note auction (page 7).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Aug 25, 2022
With the S&P 500 pivoting lower in the past week, sentiment has reflected the move as the AAII sentiment survey showed bullish sentiment drop from 33.3% last week down to 27.7%. That marked the first time bullish sentiment fell in three weeks, and it was the largest single-week decline since an eleven percentage point drop the week of June 9th.
Bearish sentiment picked up the bulk of that decline as the reading topped 40% for the first time since the last week of July. At 42.4%, it is at the highest level since July 14th. Although that marks a shift toward more pessimistic sentiment, reversing a trend of improvement from the past few weeks, the current reading on bearish sentiment is well below the highs from throughout the spring and early summer.
Nonetheless, after coming within only a few points of a positive reading in the past month, the bull-bear spread took a sharp turn lower as a result of this week’s results. The spread fell to -14.7 which is the lowest reading since July 14th. That was also the first double-digit week-over-week drop in the reading since June. Additionally, with a move deeper into negative territory, the spread is a week away from becoming tied for the second-longest streak of negative readings on record. Click here to learn more about Bespoke’s premium stock market research service.
Aug 25, 2022
Initial jobless claims have come well off of the historic lows from earlier this year, but the past couple of weeks have also seen modest improvements. We’ve now seen back-to-back weeks of declines in claims for a total drop of 9K, leaving seasonally adjusted initial claims at 243K. That is the lowest reading since the week of July 22nd. However, that is still above the range from the two years prior to the pandemic.
Non-seasonally adjusted claims are nearing what is typically an annual low. The past couple of weeks have historically been two that have seen the most consistent declines on a week-over-week basis throughout the year. That has dropped NSA claims to 184.4K which is only slightly above the post-pandemic low of 183.6K from the final week of May.
Continuing claims came in lower than expectations this week dropping to 1.415 million versus forecasts for an increase to 1.441 million. Overall, continuing claims remain much stronger and less elevated off the lows than initial claims. Whereas initial claims are above their pre-pandemic range, current levels of continuing claims continue to come in at some of the lowest levels since the first few years of the data.
Given this, the ratio of initial to continuing claims continues to hover at levels that are well above the norm of the past few decades even after peaking last month. That would imply healthy turnover as those who are filing for unemployment are not remaining unemployed for long given the small amount of follow-through of initial claims into continuing claims. Click here to learn more about Bespoke’s premium stock market research service.
