🤑 New All-Time High for Bitcoin!

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📈 CHART WATCH 📈

🇺🇸 Peter Thiel’s new IPO, a crypto exchange called Bullish, had its first day of trading today.

$BLSH opened at $95.69 and went up 31% to a high of $117.93 before falling 41% to a low of $69.75 (and closing 10¢ higher).

It’s traded up to $75.70 in post-market.

🚮 CHART WATCH 🚮

🇺🇸 57% of the S&P 500 is golden crossed (50-day moving average > 200-day).

📈 CHART WATCH 📈

🌐 Last year, global approvals of coal-fired plants rose to their highest level since 2015…

Coal is back.

🌫 CHART WATCH 🌫

🇺🇸 Prior instances of a positive close in the same day as a 52-week low in $XLV (the healthcare sector ETF) almost all occurred at major lows…

📊 CHART WATCH 📊

🇺🇸 The MOVE Index has fallen further to multi-year lows. Now it’s just north of the 2021 close.

Very bullish—there is little fear in the market. But it can’t help but feel a bit like a calm before a storm…

🔴 CHART WATCH 🔴

🇺🇸 And with fear down, speculation is up:

These are retail flows as a percentage of aggregate market cap for the $SPX & the $NDX…

↗️ CHART WATCH ↗️

🇺🇸 The Trump Stock Market Tweet-O-Meter is making multi-year highs…

✅ CHART WATCH ✅

It’s not just the $VIX and the $MOVE indices—Bitcoin’s implied volatility is at multi-year lows (across tenors) as well.

Historically, such suppressed volatility often precedes sharp moves, as traders tend to underprice risk before major market shifts.

Are you noticing a theme today?

💰 CHART WATCH 💰

🇺🇸 Last quarter was the first net decline in the number of American homeowner households in about a decade…

🔺️ CHART WATCH 🔺️

🇺🇸 Accordingly, renter households are up 1.6 million since 2023…

🏠 CHART WATCH 🏠

🇷🇺 🇨🇳🇮🇳 Where has Russian oil gone in the first half of 2025?

Mostly China and India, but Turkey is playing this game as well.

🛢 CHART WATCH 🛢

🇺🇸🇪🇺 Europe's corporate productivity growth has substantially lagged gains by US businesses…

In fact, European productivity has contracted for most of the last decade.

📈 CHART WATCH 📉

🇺🇸 How much do you want to

🔤🔤🔤🔤🔤🔤🔤🔤🔤 🅰️🔤🔤

What’s the limit on your tolerance for electricity bill hikes to support the data centers of billionaires?

📈 CHART WATCH 📈

🇺🇸 Will AI damage the software industry?

What do you think?

📱 CHART WATCH 📱

🇺🇸 It’s July PPI Day.

The Producer Price Index for final demand strengthened 0.9% (3.3% y/y) during July after unrevised stability in June and a 0.4% May increase, revised from 0.3%, according to the Bureau of Labor Statistics (BLS). It was the largest increase since June 2022. The Action Economic Forecast Survey expected a 0.2% increase in July.

Strong evidence that U.S. businesses are absorbing quite a bit of the tariff pass through…

🔺️ CHART WATCH 🔺️

🇺🇸 The other big report is in unemployment. Here are the initial (4-week moving average) & continuing claims…

📈 CHART WATCH 📉

🇺🇸 v 🌐 This is the worst year for U.S. equities against the rest of the world since 2009.

📉 CHART WATCH 📉

🇺🇸 Inflation geographic divergence widens by most since April as Pacific coast states see highest inflation rate since May 2024…

🗽 CHART WATCH 🗽

🌐 Foreign aid was over one-fifth of these countries’ national incomes.

I’m skeptical of a few of these. And Ukraine is drastically understated; they get 50-80% of their national income from abroad.

🌎 CHART WATCH 🌎

🇺🇸 Circle Internet Group debuted on June 5th at $69. In 2.5 weeks, it rose 333.3% to $298.99. Since, $CRCL has fallen 51.8% to $144.06.

Circle is responsible for U.S. Dollar Coin ($USDC), one of the top stablecoins in cryptocurrency.

📊 CHART WATCH 📊