After most of the major tech companies reported the earnings, sell off ensued on most of them including AAPL, FB, TSLA, AMD and TXN. These means good earnings have been reflected in stock prices and sell on news is what investors will do. Even though GOOG and AMZN earnings are still to be released on February 2, hope of them leading market up is shaky. Now that Fed meeting is over and the next economic stimulus plan is still to be negotiated, it is reasonable to think that the stock market is going to take the opportunity to correct while waiting for next piece of good news. Today, the Dow, S&P 500, Wilshire 5000, and the New York Stock indexes have all failed to recover above their short term 20 day moving averages and VIX has surged above 30 are signs that the market is ready to come down. Many analysts are looking for a 5 to 10% correction for the US stock market from here.
Bitcoin is a different story. After a sharp correction from $42000 to $29000 area, it has formed a perfect and bullish Double Bottom pattern in the hourly chart. The correction is over It looks ready to move up and challenge the next two resistances at $35000 and $38000 in the near term. The supports are $31000 and $29000.
在大多数主要科技公司发报了财报之 后，其中大多数股票纷纷被抛售，它们包括AAPL，FB，TSLA，AMD和TXN。这意味着好的收益已经反映在股票价格中，而新闻出来后卖股是投资者要做的。尽管GOOG和AMZN的财报仍要在2月2日才发布，但靠他们引领市场上涨的希望是不实际的。既然美联储会议已经结束，下一个经济刺激计划仍在谈判中，那么有理由相信股市在等待下一个好消息的同时将趁此机会进行修正。今天，道琼斯指数，标准普尔500指数，Wilshire 5000指数和纽约证交所综合指数都未能恢复到它们短期20天移动均线上方，而VIX却飙升至30以上均表明市场已准备好下跌。好几个分析师认为美股会有5 到10% 的下跌调整。
比特币是另外一回事。在从42000美元到29000美元区域进行大幅调整之后，它在小时图上已形成了一个完美且看涨的双底形态。修正看来已结束。它看起来会开始上升，并在短期内挑战下两个阻力位35000美元和38000美元。支撑位分别为31000美元和29000美元。
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