Excerpt from the article:
Assets moving in tandem is the theme of our call of the day, from TheoTrade’s chief market technician, Jeff Bierman, who sees dark clouds gathering for markets due to “asset auto correlation overload.”
Bierman, an adjunct instructor at Loyola University’s business school, explains that bitcoin BTCUSD, -3.69%, gold GC00, +0.36%, the S&P 500 SPX, -0.60%, bonds and oil have been “moving together in automatic serial correlation, driven simultaneously by algos,” that is, computer-driven trading algorithms used by Wall Street firms, hedge funds and other big investors.
