Well the news is out. U.S. Economy Posts Sharpest Downturn on Record, says the Wall Street Journal. “The U.S. economy contracted at a record 32.9% annual…
More of the same, and the skies are not cloudy all day.
Then it’s the trader’s enema. Trading ranges are meat grinders. The edges are often not well defined.
Macro liquidity is growing at a historically rapid pace, but much slower than in the second quarter. And there are signs of trouble brewing. Here’s what they are and what to do about them.
Influences on USD include trade flows, including tourism, Financial flows, and pure trading flows. I’ve often wondered which is dominant.
Normally this time of year Americans are selling dollars and buying euros heavily because of travel. More Ame…
UPDATE 10 AM ET
Whiplash! The early selling was a shakeout.
Gold has met most of the targets we had, but there are still a few left for the short run. Meanwhile, we’re swinging higher with our mining picks.
Short term cycles are in down phases. There are a couple of clear parameters to watch for signs of whether this will get worse or not. Intermediate cycles appear to be topping out. Again, there are clear parameters to watch for confirmation.
But the long term indications remain bullish, with a brand new price and time projection for the bull market high. It won’t make bears happy, but our chart picks still have 4 shorts along with 7 longs. The bull is no longer a monolith, but it only takes a few big stocks to carry the market averages higher.
The signs of hope that a few analysts have noted in recent days are based on questionable data.
Update 10:40 AM ET
Edging closer to failed buy signals here. Could signal a crash if they break 3189.