Disclaimer: this is not investment advice. Some of the content in this email is generated with the help of artificial intelligence. For the love of all things robotic, please do your own due diligence.

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💸 In Today’s Newsletter

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📰 What’s moving Markets?

• Asian stocks are mixed with shares in China and Hong Kong trading lower for the third consecutive day while shares Japan and Australia trade higher following yesterday’s rally in US markets driven in part by strong company earnings (SPX was up 0.71% and NDX was up 0.82%)

• UK inflation printed at 7.9% (CPI headline) YoY this morning, below market expectations of 8.2% and below the 8.7% print for May. Core CPI was at 6.9% and Headline RPI 10.7% (expectations: 10.9%). FTSE 100 futures are up 0.65%.

• UK fintech Wise was up 4% after reporting a 66% increase in income driven by higher interest rates and an increase in active customers and volume.

• Morgan Stanley was up 6% after reporting EPS of $1.24, exceeding the estimated $1.20 and posting record wealth management revenues.

• US retail sales rose by rose by 0.2% in June, below expectations of a 0.5% increase. Retail sales have been in positive territory for the past three months but have not exceeded half a percentage point.

• GS, Tesla, ASML, Netflix and IBM are amongst the anticipated companies announcing earnings today.

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📊 Chart of the Day

JP Morgan polled investors on their propensity to add equity exposure to their portfolios over the coming days/weeks and only 17% said they would increase exposure — the lowest level since Summer 2021.

Investors are not increasing their equity exposure

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₿ Bitcoin Bot

Today’s suggested trade: Buy Bitcoin at $30,079.73.

1. Moving Averages: The 20-period moving average (SMA_20) is below the 50-period moving average (SMA_50), which is typically a bearish signal. However, the price seems to be crossing above the SMA_20, which could indicate a potential short-term upward trend.

2. RSI (Relative Strength Index): The RSI is around 48, which is in the neutral territory. It's neither overbought nor oversold, and it doesn't indicate a clear buy or sell signal at this point.

3. Bollinger Bands: The price is moving towards the lower Bollinger Band, but it is not touching or crossing it. This is usually a bearish signal. However, a touch or break below the lower band could be a good buying opportunity, as it often signals oversold conditions.

4. MACD (Moving Average Convergence Divergence): The MACD histogram is moving upwards, which is a bullish signal. The upward movement indicates that the shorter-term momentum is rising faster than the longer-term momentum.

5. Stochastic Oscillator: Both %K and %D lines are moving upwards, with the %K line crossing above the %D line. This is typically seen as a bullish signal.

6. OBV (On Balance Volume): The OBV is increasing, which is a bullish signal. This suggests that volume is higher on up days, meaning buyers could be accumulating Bitcoin.

For the potential long (buy) position:

• The stop loss is set at approximately $29,741.72, which is about 1.12% below the current price. This is a conservative level where Bitcoin would no longer be showing the bullish pattern identified earlier.

• The take profit is set at approximately $30,397.30, which is about 1.06% above the current price. This is the level where we aim to exit the position for a profit.

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