Bitcoin reaches new milestone as markets face potential reversal
- Technical strategist Tom DeMark predicts a top for Nasdaq and Dow as early as this week
- Bitcoin reaches $42,000 for the first time in months
- DeMark’s analysis suggests markets rarely bottom on bad news and top on good news
- DeMark says both Nasdaq 100 and Dow Jones Industrial Average could top this week
- Bitcoin approaching an important juncture
- Gold’s strength could extend its rally much higher and longer
- Stock futures pointing to a weaker start
- Alaskan Air to buy Hawaiian Holdings for $1.9 billion
- Roche to buy Carmot Therapeutics for $2.7 billion
- Spotify to cut 17% of its workforce
- Factory orders leads a quiet Monday on the economics calendar
- Nasdaq slow to delist companies below $1 a share
- Chart of the day: 2023 disinflation driven by unwinding of supply shocks
Technical strategist Tom DeMark predicts that the Nasdaq and Dow could reach a top as early as this week. Bitcoin has reached $42,000 for the first time in months, while gold’s strength could extend its rally. DeMark’s analysis suggests that markets rarely bottom on bad news and top on good news. He also notes that both the Nasdaq 100 and Dow Jones Industrial Average are approaching their likely tops. In other news, Alaskan Air has agreed to buy Hawaiian Holdings for $1.9 billion, Roche is set to acquire Carmot Therapeutics for $2.7 billion, and Spotify plans to cut 17% of its workforce. The stock futures are pointing to a weaker start, and the Nasdaq has been slow to delist companies below $1 a share. Today’s economic calendar is led by factory orders, while the chart of the day shows that 2023 disinflation has been driven by the unwinding of supply shocks.
Factuality Level: 2
Factuality Justification: The article contains irrelevant information, tangential details, and repetitive information. It also includes personal opinions and speculation from Tom DeMark, which may not be universally accepted as fact.
Noise Level: 3
Noise Justification: The article contains a mix of relevant information about financial markets and analysis by Tom DeMark. However, there is also a significant amount of irrelevant information, such as stock tickers and random reads, that detract from the overall focus of the article.
Financial Relevance: Yes
Financial Markets Impacted: The article mentions the performance of Bitcoin and gold, indicating that financial markets related to cryptocurrencies and precious metals may be impacted.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article primarily focuses on the performance of Bitcoin and gold in financial markets, indicating financial relevance. There is no mention of any extreme events.
Public Companies: Alaskan Air (ALK), Hawaiian Holdings (HA), Roche (ROG), Carmot Therapeutics (N/A), Spotify (SPOT), Tesla (TSLA), GameStop (GME), Nvidia (NVDA), AMC Entertainment (AMC), Nio (NIO), Bit Brother (BETS), Coinbase Global (COIN), Marathon Digital (MARA), Apple (AAPL), Amazon.com (AMZN)
Key People: Tom DeMark (Technical Strategist), Christopher Waller (Fed Gov.), Jerome Powell (Fed Chairman), Christian Keller (Head of Economics Research)
Reported publicly:
www.marketwatch.com 
