Risk Milestones, Collectables as an Asset Class, High Demand for Uranium and Pitchfork Recommendations
Risk Milestones, Collectables as an Asset Class, High Demand for Uranium and Pitchfork Recommendations
By:Ed McKinley
A weekly look inside Luckbox magazine
Monitoring the Milestones of Risk
Recent events demonstrate how quickly the world can change. In the last few days we’ve seen a presumptive presidential nominee survive an assassination attempt and a sitting president abandon his bid for re-election—not to mention the emergence of an energized campaign to put a woman behind the resolute desk in the Oval Office.
All of this will probably add to the volatility of the markets this fall, and it underscores the the importance of monitoring levels of support and resistance in the equity indices. If the market continues takes a downward trajectory, for example, keep a vigilant eye on key support levels.
A logical starting point would be a 10% decline from recent highs. With the S&P 500 reaching a year-to-date high of 5,670, a 10% drop would bring it down to approximately 5,103. If it breaches that threshold, attention should then turn to the next significant support level. Historical data points to a level slightly below 5,100—closer to 4,970—reflecting the S&P 500's lowest point of the year (in April 2024).
Beyond that, two additional downside targets warrant close monitoring. The first is a 20% decline from the recent highs, translating to around 4,536 in the S&P 500. The second critical level is where the current rally commenced, near 4,100. That’s where the S&P 500 bottomed last October.
Collectables Are Becoming an Asset Class
Collectibles, once the domain of hobbyists and niche enthusiasts, are attracting the attention of investors. They could include anything from fine art and vintage cars to comic books baseball cards.
Last year, the value of the collectibles market was estimated $495 billion. So, it’s not quite at the level of the global cryptocurrency market, which has capitalization of around $2.3 trillion.
The NFT craze, which built momentum during the COVID-19 pandemic, not only elevated the profile of digital assets, but also invigorated the broader collectibles market. The crossover between these realms became evident with the sale of Beeple's Everydays—The First 5000 Days NFT, which fetched $69 million at a Christie's auction in March 2021.
The Love Joanna Sternberg Gives
Singer-songwriter Joanna Sternberg sat down with Luckbox to describe what drives them to perform. They’ve been a visual artist and musician practically their whole life, but what makes them so special is how human and down to earth they are. They were born and raised in New York City and took to the Pitchfork Red Stage in Chicago on Sunday, July 21 for an intimate set full of heartfelt songs, bug swatting intermissions and delicate humor.
Sternberg’s quirky demeanor is met with a wholesome gratitude, one that shows they lead their life and work with a certain child-like joy. When meeting Sternberg, or seeing them perform live, it’s impossible to walk away without feeling that same unguarded love for art. They crack jokes and try to not take themselves too seriously, confiding in the crowd about their fear of butterflies.
Sternberg’s collection of songs creates an emotional quilt of poetic simplicity. All they hope to do with performing is to make people feel better, even if just for a few moments. “That's the thing that pushes me to keep doing it. Because otherwise I'd be too scared,” Sternberg says.
Ed McKinley is editor-in-chief of Luckbox magazine.
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