For all the drama and excitement after hours yesterday about the virus ready to wipe out the Earth, it turns out to be, once again, a non-issue. The ES has recaptured the lion’s share of its drop last night. Trillions of dollars of new “liquidity” beats human death every time.
Liquidity moves markets!Follow the money. Find the profits!
It’s really too bad that gold isn’t waking up. At the initial reports of the virus, it had a nice bump, but since then, it has been just bumping along. It’s a real pity that cryptocurrencies are blowing the doors off of precious metals. Pathetic, really.
There’s still hope for metals. The gold bugs index is still poised to go into rocket launch mode, as long as it doesn’t start failing the horizontal lines which it has struggled so mightily to establish as support.
Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. 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. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.