Tail Risk in Taiwan

Degenerate Business School

English - August 08, 2022 17:00 - 31 minutes - 21.4 MB - ★★★★★ - 16 ratings
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Previous Episode: Bear Market Rally or Powell Pivot 2?

Next Episode: No Pivot for You!

Last week, the Finance Twitter newsfeed produced an embarrassment of riches. Just to enumerate the highlights:

Nancy Pelosi visited Taiwan and sent the CCP into a frenzy The jobs report blasted consensus, making way for more Fed hawkishnessAmazon bought Roomba, completing it's conquest of your homeMichael Saylor stepped down as CEO of Microstrat to work on Bitcoin full timeBlackRock announced it will now offer bitcoin trading for institutional clients

Which of course bears not at all on the state of technicals. But it does appear that Friday's jobs report was the narrative capstone to a rally in the Nasdaq, that by all technical standards has reached very overbought levels. Is this the point of exhaustion, in the near term at least, for the counter rally?