Caught Between a Rock and a Hard Place!

Hi There!  I was today years old when I found out that our UK pals get to turn their clocks forward one hour on Sunday (3/26/2023).  It's a century-old tradition called the clock-changing ritual that started during World War I.  Apparently, some bloke thought that lighter evenings would preserve fuel for the war effort.  But here's the twist - this ritual signals the start of SUMMERTIME in Britain, not Spring!  I suppose the start of summer in March is definitely worth losing a bit of sleep over.   "It's a summertime affair, in a the atmosphere "<in my Shaggy's voice>.

Alright, let's dig in!

Uncertainty chastises the markets and this was evident last week. The choppiness of price action was a tell-tale sign of the unease that investors were experiencing. Federal Reserve Chair, Jerome Powell, did his part by raising interest by 25 basis points as expected.  But, the Fed's actions and words were not in sync, leaving investors with more questions than answers. However, despite all the chaos, the three major U.S. indices still managed to close out with small, weekly gains. 

Meanwhile, in crypto, the long-awaited Arbitrum airdrop happened a week earlier than expected.  The Arbitrum (ARB) token had a massive sell-off at listing.  Traders are still bullish on ARB and anticipate price action will follow that of previous airdrops.

Other key highlights from last week: 

• Germany's largest bank, Deutsche Bank, tumbles as jittery investors seek safer shores

• How the 2023 banking crisis unfolded: A timeline of key events

• Oil closed moderately lower on European banks and U.S. crude reserve concerns

• Paris Blockchain Week: 4 NFT trends to watch in 2023

• Sony to introduce NFTs into PlayStation Games

• Immutable and Polygon Labs team up to expand the Web3 gaming ecosystem

Here's what to expect in the week ahead: 

In the midst of the ongoing banking sector chaos, all ears will be listening intently to the speeches of German Bundesbank chief Joachim Nagel and European Central Bank President Christine Lagarde.  Investors are eager to hear both policymakers' opinions on inflation threats and further impacts on the economy.  

The following U.S. economic reports will be the center of focus: the Consumer Confidence report, the state of the housing market, the core Personal Consumption Expenditures (PCE) Price Index, Initial jobless claims, and the final reading on fourth-quarter Growth Domestic Product (GDP).   

Several U.S. Fed Policymakers will be speaking throughout the week, including Fed Governor Jefferson, Boston Fed President Collins, Richmond Fed President Barkin, and Governors Waller and Cook.

The upcoming high-impact global news includes Germany Ifo Business Climate, China Manufacturing Purchasing Managers Index (PMI), and the Consumer Price Index (CPI) releases for Euro Area, Japan, and Australia. 

Notable earnings include McCormick (NYSE: MKC), Micron (NASDAQ: MU), Cintas (NASDAQ: CTAS), and BlackBerry (NYSE: BB).  

Next week's anticipated bias (not financial or investment advice):

• Monday (03/27/23) - Trade momentum

• Tuesday (03/28/23) - Bearish

• Wednesday (03/29/23) - Start accumulating April positions

• Thursday (03/30/23) - Buy lows of the day

• Friday (03/31/23) - Good day for Bitcoin; Avg 2.5% returns over past 10 years

Trading Tip:  If Bitcoin Dominance (BTC.D) is 48% or greater, money is coming in!

March Week 03/19/23 - 03/25/23 Recap

Special Tools and Strategies 

Sui Blockchain

Mysten Labs, founded by five Meta (aka Facebook) veterans, is the company that is building the Sui Blockchain.

Sui is the first permissionless Layer 1 blockchain that is designed from the ground up.  The blockchain allows creators and developers to build experiences that cater to the next billion users in Web3.

Here is some additional information from the website.

Sui:

• aspires to deliver Ethereum-style capabilities with better design and scaling at a cheaper cost

• uses proof of stake and is designed for maximum efficiency

• has safe and secure smart contracts

• is fast AF

• easily onboard users

In September 2022, Mysten Labs raised $300 million (in a bear market) to fund the blockchain.  Since then, the team has released its first NFT called Sui Punks and plans to release the $SUI coin in 2023.  

On March 21, 2023, Mysten Labs launched its Wave to Mainnet campaign, which is a "series of events and content to educate the community about the potential for the Sui protocol".

This is a crypto blockchain to add to your watchlist!

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Disclaimer: This newsletter is strictly educational.  The information provided in this report does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the report’s content as such.  Please be careful and do your own research.