Market veteran identifies synchronized assets as warning sign for potential 'black swan event'
Market technician Jeff Bierman warns that bitcoin, gold, the S&P 500, bonds, and oil have been moving together in automatic serial correlation, driven simultaneously by algos, which is a black swan event that can be burst at any time by an exogenous cataclysmic risk event or any number of factors. Bierman notes that almost every stock outside of financials has rallied to the point of being priced for perfection and beyond, with expectations also too high. Tesla's earnings gloom is having a pinball effect across several asset classes, and Bierman thinks the market has already squeezed in so much good news, there’s scant upside left, while there’s a ton of wide open space to the downside.