Research Summary
The research report discusses the ongoing market correction, the potential for a breakout in crude oil and energy equity, and the performance of Bitcoin. The report suggests that the market correction is likely to continue due to rising yields, but sentiment flipping could establish a floor. It also highlights the consolidation of the crypto market and the potential for Bitcoin’s upward trend. The report further emphasizes the opportunity to gain exposure to oil and points out strong breakouts in energy equities like VIST and TDW. It also mentions the potential recovery of the cannabis sector and recommends a risk hedge through long JPY.
Actionable Insights
- Monitor Market Correction: The ongoing market correction is expected to continue due to rising yields. However, sentiment flipping could establish a floor.
- Bitcoin Consolidation: The crypto market, particularly Bitcoin, is consolidating and is expected to trend upwards in the coming weeks.
- Invest in Oil: The report suggests that now is a good time to gain exposure to oil as it is attempting to break out from recent consolidation.
- Energy Equity Breakouts: Energy equities like VIST and TDW are showing strong breakouts, indicating potential investment opportunities.
- Cannabis Sector Recovery: The cannabis sector, which has been underperforming, is showing signs of potential recovery.
- Risk Hedge: Long JPY is recommended as a good risk hedge, as it tends to perform well in risk-off environments.
