And now the expansive mindset needed to propagate even fake rallies has succumbed to the growing likelihood of a severe global downturn. Nor is there a way for the central banks to significantly taper their exposure to worthless paper..
The bias in gold is down, the gold price remains the 18 day moving average. Gold now trying to figure out what to do as well, its next move. $1,694 area is the next support, the market is oversold.
Western governments are promoting green energy transition, which is a good thing, but they are trying to make a 30 year transition into a 3 year deal that features the “bonus” of ruining Ukraine and much of Europe.
8 to 8.1% headline number expected today for the CPI number. But the Fed likes to look at the core. The market has decided for whatever reason that this will be a rosy report. So this creates a problem...
Indians brought unthinkable quantities of silver when price crashes in the last week of August. Jewelers in India hedged in local MCX silver futures as premiums were very high.
In summary, the nature of the market reaction over the next few weeks will provide us with a strong clue as to whether we have begun a rally to 5150SPX+, or if we need one more loop lower towards 3400SPX before that rally begins.
