Wednesday was another mixed session on Wall Street
The Nasdaq and S&P 500 extended their longest winning streak since November 2021.
The others posted modest declines…
- Dow Jones -0.1%
- Nasdaq +0.1%
- S&P 500 +0.1%
- Russell 2000 -1.1%
Overnight, speculation about SEC-approval of one or more Bitcoin ETFs pushed its price up to new 52-week highs.
At writing, one Bitcoin trades at $36,800, its highest level since May 2022.
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We maintain a long-term bullish outlook for Bitcoin and continue to accumulate weekly through Swan.
Sector Round Up
The sectors split. 5 of 11 ended Wednesday’s session higher.
At the top…
- Real Estate (XLRE) +0.6%
- Technology (XLK) +0.6%
- Materials (XLB) +0.3%
At the bottom…
- Communications (XLC) -0.5%
- Utilities (XLU) -0.7%
- Energy (XLE) -1.3%
Buyers continue to show resilience.
Today’s chart shows how local support levels are holding after last week’s massive bull run…
Over the past three trading sessions, buyers pushed prices back up every time the S&P 500 dips.
Our outlook remains bullish.
Your latest readout…
According to a Bloomberg analyst, A two-week window for the SEC to approve a Bitcoin ETF opened yesterday.
The speculative window closes on November 17th.
Bear in mind that approval is only a first step … Trading for a new ETF would likely be months away if approved.
Seconard watchlist—float about 100 million
ROVR support at $7
TBLA support at $4
KD support at $17
PINS support at $30