The Weekend Rip: Uh-Oh… Crypto 🙈🙊

Tale of the Tape

Good evening, y’all. Who’s ready for another wild week on Wall Street!? 🙋‍♂️

Over the weekend crypto continued to cave in. Bitcoin broke to 31,111 while ethereum leaked below 2K. See the charts below. 

Earnings will be light, but we’ll see numbers from Nvidia, Intuit, Snowflake, Best Buy, and Costco. 

$NVDA finished Friday within 10% of it’s all-time high. Will it break to blue sky following its earnings release? Time will tell… 

Here’s the daily chart: 

Virgin Galactic saw outstanding success during its test flight. Will $SPCE race to new heights? Place your bets…   

Last week, the S&P 500 maintained its previous week’s range. Will stocks post another inside week or is it time to streak?? 

Here’s the weekly S&P 500 chart:

And last week’s changes: 

S&P 5004,155-0.43%
Russell 20002,215-0.42%
Dow Jones34,207-0.51%

Uh-Oh… Crypto 🙈🙊

Crypto had a crazy week. Bitcoin broke below $40K while Ethereum leaked lower than 2K.  Last week, China and the United States tightened crypto regulations and the tax code.

The selloff resumed on Sunday. Bitcoin bopped to $33K while Ethereum tumbled and is down more than 40% for the week. 

Will these two finally find their footing?? Time will tell… 

Here’s the bitcoin daily chart:

And ethereum:

Despite the recent carnage— $BTC.X is still up 15% YTD while $ETH.X is up 168% YTD. 

Space— The Final Frontier 

Get ready, folks. The race to space has resumed and we’ve got exciting news!! 

On Saturday, Virgin Galactic completed its first human spaceflight from Spaceport America, New Mexico. 👀 💪

Michael Colglazier, Chief Executive Officer of Virgin Galactic, commented:

Today’s flight showcased the inherent elegance and safety of our spaceflight system, while marking a major step forward for both Virgin Galactic and human spaceflight in New Mexico. Space travel is a bold and adventurous endeavor, and I am incredibly proud of our talented team for making the dream of private space travel a reality. We will immediately begin processing the data gained from this successful test flight, and we look forward to sharing news on our next planned milestone.

The trip wasn’t for show, Virgin Galactic fulfilled a number of test objectives during the flight like:

— Carried revenue-generating scientific research experiments as part of NASA’s Flight Opportunities Program.

— Collected data to be used for the final two verification reports that are required as part of the current FAA commercial reusable spacecraft operator’s license.

— Tested the spaceship’s upgraded horizontal stabilizers and flight controls and validated EMI reductions.

🌌 Watch the highlights from yesterday’s flight here.

Sunday Links:

💰 Feel like you’re the only person who’s not trading options? Here’s an infographic that covers the basics of calls, puts and more!*

🥩 Just A Thought

🕰 The Long Arc of Time

♻️ Infographic: Visualizing the Sustainable ETF Universe

💰 NFT Of Soon-To-Be-Deleted ‘Charlie Bit My finger’ YouTube Video Sells for >$760,000

🍿 The Tiny Bubbles Keep Rolling Through The Markets…

🔹 Xavier Portela Makes Dubai Glow in Dazzling Hues of Pink and Blue

🖼 Samsung Family Art Trove Needs a Home, and Towns Are Vying to Adopt

The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, May 24th, 2021:

Economic Calendar:

5/25 April New Home Sales (10 AM ET)
5/27 Jobless Claims (8:30 AM ET)
5/28 April Personal Income (8:30 AM ET)
5/28 April Personal Spending (8:30 AM ET)

Here’s the full Economic Calendar provided by Briefing

Earnings Calendar:

Be sure to know when your stocks are reporting. Here’s the earnings calendar