Technology
Bursa Technology Index predicts to Rally if able to break ATHBursa Tech Index shown a good example of compliance to Fibo Extension.
2nd High/ATH is at Fibo extension of 1.618 and retrace to Lower High. this HL is well supported (2x double bottom)
If the index break 93.9 (ATH) - Technology Index and its counters should rally together with Bursa Index.
Observer the STO cross, which shows an early rally indicator.
Ford Lightning - Upcoming Best EV Sellers - Prove it!EVS have been hyped forever now. Lets see if Ford's supply chain can hold up and beat out the goofy Ponzied Cyber Truck. Gross. Anyway.... everything rally is up. Find quality with profits TODAY, not 20 years from now!
*valuation matters
NOMO FOMO
Stop Pogging! Learn to Invest. You'll do great.
Growing Stocks to Watch in the Chinese Market: (WIMI:NASDAQ)The regulatory and other uncertainties in the Chinese market directly impact sectors like fintech, gaming, and education. Winners will be companies that have benefited from the regulatory change or captured the newly emerging opportunities.
WiMi Hologram Cloud (WIMI:NASDAQ)
WiMi Hologram Cloud is one of China's top holographic Cloud technical solution providers that focuses on AR automotive HUD software, 3D holographic pulse LiDAR and holographic microelectronics. Frost & Sullivan, for instance, described WiMi's holographic AR application platform as one covering the most comprehensive set of AR products in China.
WiMi reported a 140% year-over-year increase in revenue from CNY 319 million in 2019 to CNY 766 million in 2020. The net income before the impact of stock compensation expenses was CNY 40.3 million in 2020, presenting a decreasing trend mainly due to a 362.8% increase in R&D expenditure.
Also, with the increasing application solutions demand on the 3D vision-related semiconductors, WiMi broke into the market. WiMi's 56% of the 2020 revenue was contributed by its semiconductor business, which was just launched in July of that year. Along with the rise in the Chinese semiconductor industry that is vigorously supported by the state, the business is going to build a new growth curve for WiMi.
For the full article with the charts, please visit the original link.
$ARKK: Cathie vs Burry, Which Side Will You Choose?The 120 level on ARKK continues to act as a very prominent level. What would you do?
ARKK 120 features a prominent low volume node and now we have a chance to meet this level with the falling trendline that starts from the Feb high to the June 2021 lower high. Together these forces will meet and ultimately decision in the coming weeks. I'll let time tell me which way I'll play this one but will the Russell 2000 be a canary in the coal mine or will it successfully squeeze bears like it's been known to do. You may also look to the Fed and forex markets to see how the dollars role may play apart. Good luck traders!
NAS100 H1 SETUPThe Nas100 is trading at the top of a corrective structure on the H1 time frame and is currently in wave 4. This means that there are two options on the table. In my opinion we are more likely to see option one play out but that is definitely not guaranteed.
Option one is that the price breaks the top of the structure and moves to the target area of 15280.
Option two is that there is a retracement to complete wave 5 to the bottom of the structure before the reversal and break to the target area of 15235.
The weekly time frame setup suggests that the target to the upside is around the 15750 mark so I am looking to trade all the smaller long setups up to that level. From there I will need to watch for structure formations in order to see direction.
Happy trading!
Linton White
QuickTrade
Disclaimer
This information is not intended as advice or as a trading signal. Should you use this information in any way whatsoever, you do so at your own personal discretion.
A Glance at Tencent's Insurance Technology VenturesTencent has also sped up its venture into the insurance industry. In 2016, Tencent invested in Waterdrop Inc, which turned out to be China's first Insurtech stock (WDH:NYSE), as one of the angel investors. In 2017, Tencent also received the admission ticket, which is an insurance license for its Weimin Insurance Agency Co., Ltd or WeSure issued by CBIRC.
WeSure
Launched in 2018, WeSure had attracted about 50 million clients as of November 2020. Meanwhile, the number of its registered users has exceeded 100 million. Benefiting from the powerful data networks of WeChat and Tencent's other platforms, WeSure has provided its partners with vital insurance-related technologies, including anti-fraud, risk identification and precision marketing. Users can make insurance purchases, inquiries and claims directly on the firm's vastly popular instant messaging and lifestyle platforms, WeChat and QQ.
WeSure has its own edge competing with AntSure. AntSure focused on 'insurance supermarkets' and relied upon cost-effective products based on natural flow conversion from its ecosystem. On the other hand, the focal points of WeSure are its selective customized products and real-life consulting services, which can provide enhanced one-on-one services to help customers with insurance configuration, claims assistance and more. Besides, WeSure has always taken the initiative to partner with foreign insurers, such as AXA and MetLife, to further expand the scope it can reach. In the early stages of COVID-19, WeSure and AXA launched an insurance plan which protected more than 100,000 front-line medical service staff, and the total insured amount of people through WeSure is over 15 million since the outbreak.
In addition, WeSure has actively explored charitable opportunities through the use of online insurance; for instance, WeSure established the 'WeSure Charity Fund' to enhance the effectiveness of insurance as a social stabilizer through leveraging the Internet and insurance to increase participation in philanthropy.
Bottom line
Despite the regulatory shakeups, WeSure and AntSure remain key tech-powered driving forces in China's insurance domain, embracing the potential to reshape the industry landscape.
For the full article with the charts, please visit the original link.
Xiaomi Expects to Invest Over CNY 13 Bn in R&D in 2021Xiaomi's official Weibo showed that the company's investment in technology research and development (R&D) had increased steadily over the past two years.
On August 8, Xiaomi officially announced that its investment in R&D has increased at a compound annual growth rate of 30% in the past two years. In addition to wired and wireless fast charging, the company also has layout and output in chips.
As early as February 2021, Lei Jun, Xiaomi's founder, revealed that the firm had invested CNY 10 billion in R&D in 2020. In 2021, Xiaomi will continue to maintain a high investment in R&D, which is expected to increase by 30% to 40% (about CNY 13 billion to CNY 14 billion).
The financial report shows that in 2020, the company invested CNY 9.3 billion in R&D, with a year-on-year growth of 23.5%. In the first quarter of 2021, its R&D expenditure was CNY 3 billion, representing an increase of 61%.
Although Xiaomi's R&D investment still lags behind some leading mobile phone manufacturers such as Apple, Huawei and Samsung, the firm's sales are impressive since 2021.
The Canalys report shows that in Q2 2021, the global smartphone shipments were about 316 million units, with a month-on-month decrease of 9%. Among them, Xiaomi ranked second with shipments of 52.8 million units, showing a year-on-year growth of 83%. This is also the first time that the company ranked second in terms of shipments.
On August 5, a report released by Counterpoint Research, a data research firm, showed that in June 2021, Xiaomi's global mobile phone market share rose to 17.1%, surpassing Samsung (15.7%) and Apple (14.3%), ranking first in the world. Meanwhile, its mobile phone sales grew by 26%, making it the fastest-growing brand for the month.
For full articles with the charts, please visit the original link.
$FSLY Bullish ReversalTechnology / Software Co. Fastly ( $FSLY ) has setup nicely to continue with its bullish trend.
Looking at weekly chart its found some solid buying interest at previous highs ( 35.25 ) set all the way back in Sept. 19'
First target / resistance lines up with its 50% retrace of its last move lower around 49.00
If we can see a break and hold above its halfway back setup and weekly trend line, $FSLY looks for a nice swing towards second target at 72.55
Long term I'm looking to play retest / potential break above ATH
- Krecioch
MATTERPORT IPO DEBUT w/ some TA on the 15 minute chartToday Matterport previously GHVI changed its ticker to MTTR and had a decent open with about 1.5 million volume up until it was debuted on CNBC by the anchor Josh Brown. Then we saw a huge pump up from that area and about 3-4 million volume traded after he said he wants to buy after earnings happen. He is bullish on Matterport but also wanted to wait for earnings to add. We have a few stages of the DE-SPAC process to go through here that can help a long term investor DOLLAR COST AVERAGE down.
Pipe dump, Warrant Redemption, Insider Lockup periods, and whatever else in relation to that process.
This made for decent long and short momentum plays today. A lot of swings came in hot on the CNBC news and sold off on the momentum and a lot of puts and shorts came in on that momentum to take over as the double top was confirmed. We saw the bulls and bears fighting at close to hold $15 which is broke to $14.96 end of day.
Was quite exciting to watch it all go down!
BTC - what is it?//Let us have a discussion.Since we know what bitcoin is(read on the graph) we can talk about it.
I have concerns about bitcoin. Let us discuss them(but in a calm discussion).
1) The fundamental aspect of institutionless transactions(no trusted party)
"As such, the verification is reliable as long as honest nodes control the network" It means that we must trust everybody else (trusted party)? Isn't it better to trust a legal entity like a bank than bitcoin holders?
"if the attacker doesn't make a lucky lunge forward early on, his chances become vanishingly small as he falls further behind" What about people who saw the "potential" of bitcoin early when it was cheap?
What about the inventor? We don't know who he is? Maybe he has done something to be the attacker in the future? Is not he a trusted party?
2)The price of the bitcoin
Since the only purpose of bitcoin is to eliminate the transitions fees the max price for bitcoin is ~5000$/it means that bitcoin is a bubble(it may grow until the whole economy will cost less).
3)The jobs in the sector of transactions(640 million $ are there)
4)Legislation
Since there is almost none of it, bitcoin is used for criminal purposes.
5)Mt. Gox.
All of it is risk -> high risk means high profit or loss.
What do you think?
China Prepares To Roll Out The Digital YuanThe Evolution of the Global Financial Revolution
Which came first, the chicken or the egg? The question has its root in ancient Greece, where philosophers used it as an analogy to opine on cause and effect. Aristotle, writing in the fourth century BCE, addressed the question of origin versus first cause as an infinite sequence, with no actual source. The paradox may be one of the most studied and debated topics in history.
In the young world of cryptocurrencies, a modern-day chicken and egg question may only lie in the brain of Satoshi Nakamoto. The anonymous founder, who may exist in name only, is the only one who can answer which came first, Bitcoin or blockchain?
China’s digital yuan will be the first
China crackdown on cryptos to avoid competition
A bifurcation in the blockchain-based currencies on the horizon- Digital and stable coins versus cryptos
Carbon, security, custody, and control are the issues facing cryptos
A digital dollar and euro are on the horizon, but the government needs to “get it right.”
Nothing gets a bull market going like the potential for untold wealth. Anyone who purchased $10 worth of Bitcoin in 2010 at five cents and held the 200 tokens has a mark-to-market value of nearly $6.5 million as of July 25. The value was down from over $13.1 million on April 14, 2021, when Bitcoin reached the high of over $65,500 per token.
Bitcoin and the expanding cryptocurrency asset class that includes over 11,000 tokens as of the end of last week continues to provoke controversy. However, there is almost universal acceptance that blockchain technology is evolutionary for finance and other applications.
The growth of the asset class over the past decade has been nothing short of astonishing. However, at the $1.395 trillion level on July 25, the combined market cap remains well under Apple’s (AAPL). The world’s most valuable company had a value of over $2.479 trillion at $148.56 per share on July 23. While the cryptocurrency asset class market cap is nothing to sneeze at, it still pales compared to the stock market and many other asset classes.
Through Newtons’ First Law, physics teaches that a body in motion tends to remain in motion. The trends in cryptocurrencies remain higher despite the recent correction that cut many of the tokens’ values in half. Currencies that employ blockchain technology will continue to come to market over the coming days, weeks, months, and years. The next significant issuance will come not from the private sector but from China, the world’s second-leading economy that is nipping at the heels of the US, the world’s largest economy.
China’s digital yuan will be the first
It is not a question of if a country issues a digital version of its currency, but when it will occur. China is leading the race as it has been working on the digital yuan or 3-CNY since 2014, long before Bitcoin and the other cryptos really took off on the upside.
In mid-July, the Chinese government published a white paper in Chinese and English outlining that “Foreign residents temporarily traveling ion China can open an e-CNY wallet to meet daily payment needs without opening a domestic bank account.”
With the fanfare of the 2022 Winter Olympics in Beijing on the horizon, China is targeting the even as an opportunity to roll out the e-CNY product for visitors as the next step for its digital currency. A group of US Senators urged the Olympic Committee to forbid US athletes from using the digital yuan because of surveillance issues. China responded that “The US politicians should abide by the spirit in the Olympic Charter, stop making sports a political matter and stop making troubles out of the digital currency in China.”
As of the end of June, after a year of e-CNY tests across China, approximately 20.87 million personal wallets and over 3.5 million corporate wallets were opened. Transactions values are about 34.5 billion yuan or $5.4 billion, according to the paper.
China is well on the way to making its digital currency the mainstream means of exchange. The trials have expanded with programs producing a digital yuan insurance product for medical personnel exposed to coronavirus risks in Shenzhen, Guangdong Province.
China’s political and economic system may be better positioned to roll out digital currencies as an authoritarian approach allows the government to control the money supply and all aspects of life directly. In the US, the politicians may blame “surveillance” issues for objections to athletes using the e-CNY during the Olympics. Still, they are likely far more concerned with controlling the purse strings, which is crucial for maintaining power. Moreover, China’s political system allows the government to squash any competition to its digital currency. Simultaneously, blockchain technology will enable the Chinese government to track spending in real-time, increasing its power over 1.4 billion citizens. Cryptocurrencies became popular in China as they allow citizens to anonymously move funds offshore, which China defines as a nefarious use. Blockchains’ efficiency is a dream come true for the CCP.
China crackdown on cryptos to avoid competition
As China prepares to roll out the digital yuan fully, the central bank has been cracking down on cryptocurrency mining and trading. In May, the government banned Chinese financial institutions and payment companies from providing crypto-related series. Mass arrests following in June. People suspected of using cryptos in “nefarious” ways were rounded up. In July, the Beijing office of the People’s Bank of China shut down a company “suspected of providing software services for virtual currency transactions.”
Bitcoin, the leading cryptocurrency, reached a high of over $65,500 per token on April 14, the day of the Coinbase (COIN) listing on NASDAQ. The actions in China were a primary cause of the end of Bitcoin’s parabolic rally.
As the chart highlights, nearby Bitcoin futures fell from $65,520 in mid-April to a low of $28,800 in late June. At the most recent $32,480 level, the cryptocurrency remains a lot closer to the low than the high. The crypto asset class’s market cap dropped from over $2.4 to under $1.4 trillion over the period. China’s crackdown on cryptocurrencies has been the leading reason for the decline.
A bifurcation in the blockchain-based currencies on the horizon- Digital and stable coins versus cryptos
The Chinese political system allows its leaders to squash competition from other cryptocurrencies as it rolls out its new digital yuan. While the US, Europe, and other countries will roll out digital dollars, euros, and other e-currencies based on blockchain technology over the coming years, they will not have the same latitude to crush competition from cryptocurrencies. We are likely to see a flurry of regulatory moves in anticipation of western digital currencies, but it will be a slow process. China can act immediately, while differing political factions in the US and Europe will spend months, if not years, debating the regulatory framework.
I believe we will see a schism in the blockchain currency world that will separate cryptocurrencies from government-issued digital currencies and stable coins. A stable coin is a hybrid as it pegs its price to another crypto, fiat money, or exchange-traded commodities.
China would like to see cryptos disappear, which is the likely sentiment for all governments as power comes from controlling money. I believe the global regulatory framework will eventually favor digital government-issued currencies and stable coins over pure cryptocurrencies.
The ideological divide is vast. Cryptocurrency’s philosophical backbone is libertarian as they represent a rejection of the central bank and government’s control of money. As the asset class grows, the gap will widen. Chinese actions against cryptos could be the tip of the iceberg. While China and the US governments agree on little, they could be comrades-in-arms in a war against the cryptocurrency philosophy.
Carbon, security, custody, and control are the issues facing cryptos
Four of the problems facing cryptocurrencies have different ramifications for the asset class’s future.
Elon Musk highlighted the carbon footprint left by Bitcoin miners when Tesla (TSLA) decided to abandon plans to accept Bitcoin as payment for its EVs. Mining requires substantial energy, so the asset class will need to continue addressing net-zero carbon extraction methods.
The rising number of computer hacks poses a threat to computer wallets. Ironically, hackers have held systems hostage for ransom in Bitcoin and other cryptos like Monero. Security when it comes to wallets in cyberspace and regulations to track flows are issues the asset class. Security could be the governmental excuse, requiring transparency and strip away some of the anonymity.
Custody on a grand scale is another issue that has prevented the introduction of market-based products like ETF and ETN tools that would provide further acceptance of cryptocurrencies by investors and traders. Many market participants are reticent to hold the tokens in computer wallets. A custody system that ensures ownership and storage of cryptocurrencies will go a long way to pushing the asset class further into the mainstream.
Government control of the money supply is the most critical issue facing the asset class. Leaders are not likely to surrender the power of the purse string to a group of libertarian instruments. Those who control the money supply have the power. This ideological gulf will likely lead to the bifurcation between cryptos versus government-issued digital currencies. Stable coins will fall on the side of the fence depending on underlying forces. A stable coin based on crypto would be crypto, while one based on fiat currency or commodity values would likely find support as digital currencies.
A digital dollar and euro are on the horizon, but the government needs to “get it right.”
When questioned about the futures of a digital dollar, Fed Chairman Jerome Powell hit the nail on the head with his answer. The leader of the central bank is a master of deflection and unanswered questions. When asked about the period the Fed looks to for its “average of a 2% inflation rate,” his answer was it is “discretionary.” However, when it comes to a digital dollar, he said the most important thing is to “get it right.”
With so many conflicting vested interests in government and business in the US and Europe, the process will be laborious. A digital dollar, digital euro, and other cyber currencies based on blockchain technology are on the horizon. Under the current US administration, which has a far more globalist orientation, I expect coordination with G-7 and perhaps other friendly governments to challenge the emerging digital yuan, which will be the first digital currency to hit the market running. China has an advantage as the central planned political system puts regulation and other aspects in the hands of one leader with the final decision. The process in the US, Europe, and other countries will be far more challenging.
Digital currencies are the children of blockchain technology. The chicken or egg question between Bitcoin and blockchain is not essential as blockchain is the concept that propels the evolution of the financial revolution.
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