No FOMO

Another day, another little tidbit pointing to the adoption of the crypto asset class by major institutional players.

We already know that Nasdaq and Fidelity are planning on offering crypto products to their clients in the near future. So now it seems they're pooling together to buy out ErisX.com, a regulated online exchange platform.

The reported amount paid for the exchange was just $27.5 million. No doubt they got an excellent deal due to the recent return of the bear market. Of course, details on this deal are still fuzzy as stated in the Reuters article that broke the news.

After recent remarks from the SEC, it's now seeming much less likely that a Bitcoin backed ETF will be approved any time soon but at the rate, new products are coming online I wouldn't worry about it too much. Within a very short time, every trader and investor on the planet should be able to integrae top crypto assets into any investment portfolio fairily easily.

Today's Highlights

  • Algo Slides
  • OPEC Day
  • Another Bounce

Traditional Markets

Shortly after the funeral procession for Bush was over the futures markets opened up with a bad temper. Just about all the major indices experienced a large gap down and are now back near the lows.

Here we can see the Dow Jones. The short-term chart on the top left shows the opening gap and the chart on the top right shows where we are in relation to the beginning of 2018 (white line), the bottom chart, of course, shows the multi-year bull run, which puts things into perspective for us.

(Click on image to enlarge)

The negative session has continued into Asia and Europe this morning. Some are blaming this headline...

However, further inspection shows us that the arrest was actually made on Saturday but that the media reaction was a bit delayed in penetrating the markets. 

Of course, others believe that what human beings think about this story might be less important as "80% of daily volume in the US is done by machines."

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Disclaimer: This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of ...

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