🇺🇸 Coinbase ($COIN) earnings came in yesterday. They reported total revenue of $1.5B, missing analyst expectations of $1.59B. Crypto asset volatility was down 16% in the second quarter of this year, which led to total trading volume falling 39% q/q & missing expectations by $5.05B.

As such, $COIN gapped down & closed -16.7% today.

However, the EPS stood at $5.14 on net income of $1.4B against analyst expectations of $1.25. This silver lining was largely due to the appreciation of their post-IPO investment in Circle ($CRCL) & other crypto investments.

Subscription & services offerings grew 9% to $655.8M, short of analysts’ $705.9M projection, but the 38% increase in revenue from stablecoins ($333.2M) was right on target ($332.5M).

🪙 CHART WATCH 🪙

🇺🇸 The healthcare sector ($XLV) had its best day against the S&P 500 ($SPY) since early April.

The price action on the ETF itself looks oversold to me.

😎 CHART WATCH 😎

🇺🇸 The characteristics this recent move in $SPX have a poor history…

📝 CHART WATCH 📝

🇺🇸 The only S&P 500 sector to appreciate in price last week was Utilities ($XLU).

📈 CHART WATCH 📈