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Slipping into G20

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

Welcome to the final five days of the first half of 2019. It’s a pretty quiet morning, in spite of the looming G20 meeting and the all-too-important China/US trade talks re-ignition. I was pleased to see that, following this G20, there isn’t one until late November 2020 (interestingly, after our own elections). These meetings are annoyingly loaded with suspense and excitement which really never amounts to anything.

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Looking at the /ES over the past few days, we haven’t been trending strongly in either direction. On the contrary, we are sputtering toward the apex of a small triangle pattern, as the market is desperately seeking some new reason to make a move. As it is now, we remain more or less at 2950.

Gold continues to power higher, although there’s a modest price barrier at around $1415 it needs to conquer. It’s interesting how lately we’ve moved into a mode in which everything moves higher (bonds, gold, equities) instead of the kind of “rotation” that is more typical. Gold’s recent strength, it seems to me, points to growing tensions under the surface of the global political state.

As for myself, I’m going to enjoy my last few normal days until I get swept up into a whirlwind of global travel. Simultaneous with that, our efforts to overhaul the Slope infrastructure (for the sake of raw speed) and add new features (which continue to tumble down the chute) will press on.

Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

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