Bitcoin Blow-off, Sector Performance, SLV Pessimism

This is an abridged version of our Daily Report.

Bitcoin blow-off

Anecdotal evidence of a blow-off in Bitcoin has exploded over the last couple of days. That’s hard to incorporate, so using data related to price action and public interest, we see that a sentiment model has reached blow-off territory.

The few other times we’ve seen an extreme like this, further gains were erased in the week(s) ahead, especially once there was an initial sign that late buyers were getting scared.

Sector performance after plunge in correlation

Stocks have been at record highs then correlation among sectors plunged as we saw in Wednesday’s report. In general, stocks have performed poorly going forward, though among sectors, Tech and Health Care did fine.

Not so precious

The metals have been getting hit hard lately, and silver is starting to see signs of pessimism. The Optimism Index for SLV has averaged less than 20 over the last three days.

For access to the full report, indicators, charts, screens, and Backtest Engine, log in or sign up for a free 30-day trial today.

The post titled Bitcoin Blow-off, Sector Performance, SLV Pessimism was originally published as on on 2017-12-08.

At, our service is not focused on market timing per se, but rather risk management. That may be a distinction without a difference, but it's how we approach the markets. We study signs that suggest it is time to raise or lower market exposure as a function of risk relative to probable reward. It is all about risk-adjusted expectations given existing evidence. Learn more about our service , research, models and indicators.

Follow us on Twitter for up to the minute analysis of market action.

Not ready to signup up for a free trial yet?

Signup for our Daily Lite email to receive highlights of our daily report, research and studies.

Follow us on Twitter:

Subscribe to our Youtube Channel:

RSS Feed

Subscribe to the Blog RSS feed