Kind of an up & down day for Wall Street, but definitely showed weakness in the last hour with a move downward. Only the Russell 2k finished green on the day.
Some currency pairs, no big moves, bitcoin coming back to earth a little
Commodities mostly higher, perhaps on a slightly weaker dollar. Metals are strong again & might be ready for an inflation & fear based bull run. Copper is the only thing down today & has a history of weakness when construction projects start to decline.
Bond yields, you see the us yields continuing to creep up, rising rates will put ever increasing competitive pressure on equities & increased interest on all sorts of debt bubbles.
& a multi year S&P chart with the 200 day moving average in blue. We haven鈥檛 dropped firmly below that blue line since the beginning of 2016 when oil dropped to $30usd & stock buybacks, fueled by cheap debt, prevented a market crash.
Is another engineered crash on the way soon? Sure feels like it to me.
Good time to be diverse & paying attention.
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