Ethereum just exactly wicked to 1840 to start a pullback. We successfully got in at 1837, and we’re currently up about 40 points; even with going up and down, there’s still roughly 200 points of room.

Structurally, it meets the conditions for a topping call. But whether it can shift from small to big depends on the strength of support and follow-through in the 1720-1730 range. If BTC could give some momentum to also push into the previous high in sync, we wouldn’t be as passive right now. That said, even if we missed the trade, after we re-sort the outlook, it won’t have much impact on what comes next.

Also, pay attention to tomorrow’s CPI. Since oil prices have continued to fall over the past month, tomorrow’s released data will most likely come in line with expectations, and risk assets of all kinds should see corresponding recovery. That makes it a solid bargain-hunting point.