Week of July 22nd, 2024

SPX

The other noteworthy news is that President Biden will not be seeking another term and VP Kamala Harris is stepping in to be the Presidential Nominee. The markets are already reacting positively to this. I expect that markets will continue to remain positive as she begins to show more of herself to us. I find a good barometer for the market is the SPX and sense that it will continue to run in a positive direction end of this week thru next week.

ETH

It has also been confirmed that the spot ETH ETFs go live this week, more specifically July 23rd. More specifically, the ETFs set to begin trading include the 21Shares Core Ethereum ETF (CETH), Fidelity Ethereum Fund (FETH), Franklin Ethereum ETF (EZET), Invesco Galaxy Ethereum ETF (QETH), and VanEck Ethereum ETF (ETHV).

A few things to note on this, while these spots do go live there is a moment to capture the hype. The spots will have movement but the bigger surge will come from ETH itself. In cases like these, initially it is better for focus on the core product ETH than picking the spot to enter as it's more diluted. I sense that this week is a great week to enter ETH and exist before the week comes to a close to have some short term profits.

CRWD

It's been a lively last few days and with liveliness there is opportunity to capture growth in stocks. Most notably was the internet outage across the globe that rooted from a patch pushed by Crowdstrike (CRWD). This caused the stock to drop on Friday. I sense that it will continue to drop from July 22nd thru this week as other investors ask their advisors to move money out. Fear creates makes movement.

Enjoy!

Jamie