- Weekly Wizdom
- Posts
- Recession Fears
Recession Fears
Issue #90
Good morning!
Monday saw one of the largest sell-offs across risk assets we have ever seen, especially given we didn't have a singular event triggering this. The combination of the risk appetite unwinding in Japan following the BoJ’s rate hike and signals of cracks in the labor market in the US, alongside dovish statements, have both played their role. The main US equity indices are down 7% - 10% from their ATH, while Crypto saw double-digit drawdowns on Monday.
Looking forward, it would be crucial to follow the Japanese markets and the FED's guidance on whether they could be more aggressive in pursuing rate cuts following the recent data.
This week, our Technical Analysis covers BTC, ETH, SOL, STORJ, TAO, WOO, ORDI, TON, and BNB. We cover BABA and PDD on equities. Follow the detailed plans carefully and pull the trigger only at the recommended levels. Finally, as always, we provide updates on NFTs and the AI sector. Enjoy, and good luck out there!
We Called It!
STORJ (Crypto Fox): Newsletter long play (1) hit entry at 0.4138 and ran up to 0.4372 for a 5.65% unleveraged move to the upside
STORJ (Crypto Fox): Newsletter long play (2) hit entry at 0.3806 and ran up to 0.4198 for a 10.3% unleveraged move to the upside
WOO (Crypto Fox): Newsletter long play hit entry at 0.14438 and ran up to 0.14767 for a 2.28% unleveraged move to the upside
Macro Markets
Disclaimer
Wizard of Soho LLC and Weekly Wizdom publish financial information based on research and opinion. We are not investment advisors, and we do not provide personalized, individualized, or tailored investment advice, nor do we provide legal advice or information. The publisher does not guarantee the accuracy of the information provided on this page. All statements and expressions present are based on the author's or paid advertiser's opinion and research. Directly or indirectly, no opinion is an offer or solicitation to buy or sell the securities or financial instruments mentioned.
As news is ever-changing, the opinions included should not be taken as specific advice on the merits of any investment decision. Investors should pursue their investigation and review of publicly available information to make decisions regarding the prospects of any company discussed. Any projections, market outlooks, or estimates herein are forward-looking and inherently unreliable. They are based on assumptions and should not be construed to be indicative of actual events that will occur.
Contrarily, other events that were not considered may occur and significantly affect the returns or performance of the securities discussed herein. The information provided is based on matters as they exist on the date of preparation and do not consider future dates. As a result, the publisher undertakes no obligation to correct, update, or revise the material in this document or provide any additional information. The publisher, its affiliates, and clients may currently or foreseeably have long or short positions in the securities of the companies mentioned herein. They may, therefore, profit from fluctuations in the trading price of the securities. There is, however, no guarantee that such persons will maintain these positions. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile, or any other means is illegal and punishable.
Neither the publisher nor its affiliates accept any liability for any direct or consequential loss arising from any use of the information contained herein. By using the website or any affiliated social media account, you consent and agree to this disclaimer and our terms of use.