This editorial is from last week’s edition of the newsletter Week In Review. Subscribe to the newsletter to get this weekly editorial the second it’s finished. The newsletter also includes the biggest stories of the week with a comment on each story.
Key Takeaways:
Bitcoin and Ethereum both traded sideways on the week, while Solana led most of the altcoin market down another leg.
Stock indices made a surprise move to the upside, with the S&P500, Nasdaq, and Dow Jones all up 4.34%, 3.3%, and 2.9%, respectively. Ram Ahluwalia pointed out that the S&P 500’s move up in the first half of the week was largely a mechanical bid driven by quarter-end volume compression rather than structural buy-side pressure.
Meanwhile, precious metals threatened to resume their multi-year bull market as gold and silver both printed green weeks. Gold is now up 14.7% from its March 23 low.
