Gold again challenged trend resistance and pulled back. This is a multiple choice test. Here are the answers. Only one of them is correct. If you do not know the answer, guess.
But are the miners dead? I’ll let you know.
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The S&P futures are trading limit down at 2812 as I write this at 2:50 AM Eastern Time in the US.
I suspect that the PPT will be in action over the next few hours. Whether they’ll be able to get it above support at 2850 or not is the question. And if they do, can they keep it there? If they fail, then we’re in line for an epic crash.
The cycle lineup suggests a low now, at least after this morning’s crash burns out. Here’s what to look out for.
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Investors and leveraged speculators instead took the coronavirus panic straight to the bond market. Dealers, bless their little hearts, were long up the wazoo. Talk about smellin like a rose.
But somebody was short. Big somebodies. They’re dead. We don’t know where the bodies are buried yet, but the Fed will need to exhume them and fill the graves. We watching for the exhumations to see who the dig up, and what they fill the graves with.
Meanwhile, there’s plenty of liquidty in dealer accounts and more on the way.
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Suddenly the trend of Federal Withholding tax collections is in critical condition.
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The miners had a stunning false breakout and bull trap. Here’s what to look for.
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The ferocity of the surprise attack has been breathtaking, and deeply troubling, but here’s why the ingredients for a short term low are in place.
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The patterns on the charts of T-bills and the 10 year note are unprecedented. Something terrible has happened in the market. The Fed will have to cut on Monday. Tuesday at the latest.
It has implications for stocks, too. Here’s what to expect next.
The market got way ahead of the amount of cash that the Fed was pumping into dealer accounts in February. That took a toll, and we’ve had a little “adjustment” over the past week. Here’s what comes next.
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We knew that Not QE would fall well shy of Treasury issuance in February, and that that would be a problem for the markets.
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