Will the NASDAQ carry stocks higher again?
The schizophrenic state of the US market continued to dominate trading this week, with the tech sector clearly emerging as a leader on Wall Street, while the SP 500 and small caps kept on dragging the broader indices lower. While Apple, Amazon, and a few other names in Europe names are still pushing higher, a lot of stocks are much weaker, and usually, these situations resolve in the direction of the majority. That said, with no major economic releases coming out, the low volatility period could definitely last longer, but the market seems vulnerable to negative triggers.
Will the cryptocurrency correction continue?
Bitcoin and Litecoin are under pressure this weekend and the other majors are also struggling, with the exception of the relatively strong Ripple and NEM. Asian demand has been driving prices higher lately, while the growing attention from the broader investment public also helped the broad rally in the coins. We have seen several such euphoric periods in Bitcoin, but the recent rally in coins is unprecedented. It’s very hard to guess if the current correction will be a sustained one, but next week could prove crucial.
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