Fox Office Mojo

Chart of the Day

The equivocacy of a sign allows for open interpretation… or does it? Either way, HODLer net position change flipping green for the first time since October last year, a.k.a the dawn before a crazy rally, is unequivocally an important sign. It indicates that long-term holders have entered the accumulation phase now that the market has recovered from extreme fear and uncertainty, possibly a bullish sign, especially when you zoom out and compare it against the 2013 cycle. However, a similar pattern is observed in 2018 when the market underwent a dead cat bounce and spiraled its way into the bottom. Question is, which precedent is a better benchmark for comparison?