The once overbought Nvidia-led tech rally seems to be losing its momentum. A bearish options hedge is being considered for a member of the chip sector that is displaying signs of a breakdown. The iShares Semiconductor ETF (SOXX) chart shows a significant bearish engulfing candle on March 8th, signaling a potential shift in direction for
Asian currencies experienced a weakening trend on Tuesday as the dollar surged to over five-month highs. Despite stronger-than-expected Chinese gross domestic product (GDP) data, the Chinese yuan remained relatively stable. However, concerns arose due to softer industrial production and retail sales data for March, indicating a potential slowdown in the Chinese economy. The People’s Bank
Bitcoin analyst Willy Woo has made a bold prediction that Bitcoin will outperform the gold market cap once ETFs have completed their role. He suggests that the recently launched Bitcoin ETFs will play a significant role in this process, potentially driving BTC price targets to $91,000 at the bear market bottom and $650,000 at the
San Diego Mayor Todd Gloria recently unveiled a $5.65 billion proposed budget that heavily relies on borrowing and short-term fixes to address a structural deficit. These one-time maneuvers include eliminating $30 million in scheduled reserve contributions and choosing to borrow $25 million instead of using cash for infrastructure projects. While these decisions may help close
The recent sell-off in the major averages has left many investors feeling uncertain about the future of the market. With the S & P 500 dropping more than 1% and the CBOE Volatility Index spiking, tensions are running high. The conflict in the Middle East has only added fuel to the fire, causing traders to
Over the weekend, well-known trader Josh Olszewicz shared his insights on the potential bearish reversal of Bitcoin. He highlighted the significance of the Kijun line, emphasizing that if the price of Bitcoin falls below this line, it signals a bearish trend. Despite the possibility of a price recovery, Olszewicz pointed out the presence of a
The Pennsylvania Department of Transportation (PennDOT) has established a timeline for private sector companies to submit unsolicited proposals for transportation projects. This process is managed by PennDOT’s Office of Public-Private Partnerships and occurs twice a year, in April and October. The key objective of this initiative is to encourage innovative approaches to delivering transportation projects
Southeast Asia Blockchain Week (SEABW) is set to take place from April 22-28 at the True ICON Hall in Bangkok, Thailand. This premier blockchain conference will delve into the evolving landscape of Web3 in the Southeast Asia region, offering attendees a week filled with engagement, insights, and networking opportunities. With over 40 side events, web3
Florida has decided to enter the market early this week with a $1.5 billion taxable bond sale to bolster the state’s Hurricane Catastrophe Fund. The State Board of Administration Finance Corp. is gearing up to issue $1.5 billion worth of taxable revenue bonds in two maturities. Originally, the plan was to offer five-, seven-, and
The U.S. dollar has been experiencing fluctuations in early European trade as geopolitical tensions and uncertainty over Federal Reserve rate cuts continue to impact its value. Despite a slight decrease in the Dollar Index in recent trading sessions, the greenback remains elevated, hovering near its highest levels since early November. Heightened Middle East tensions, including