For most of the trades this week was a risk on trade for western markets with they rallying for the week.
However the picture is different when it comes to assessing them YTD. Gold, Silver, CHF and JPY along with 10 YR Note are the ones in strong bull market.
DJIA seems to be forming a triangle right now which should resolve to the downside since the major averages are aligning themselves downwards.
Crude at the moment is difficult to guess where it will move. large traders have been liquidating longs and as long as they are out we wont have a crude rally.
Nat Gas seems to be basing itself. Its a no trade.
Stay with the Golden Bull. It will make your generations to come Revere you.
Silver would not stay behind if Gold moves ahead. Infact Silver would outperform Gold.
Not evough done after Ben's speech today. All the currencies are a toast incase single world currency has to come. Afterall, if a credible competitor has to come, the incumbent has to be proven worthless.
Central bank interventions dont work now in Japan but they do for Swiss. But for CHF is may be more of profit taking since it was 16% up YTD against USD as shown by the graphs below.
The sectoral performance tells you that you are in a Bear Market.
No comments:
Post a Comment