In this report, I cover the early market action from London on Wednesday, March 27th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market, and the energy market.
Today I revisit the technical picture for the stock market and look at the evolving head and shoulder formations in the major U.S. indices like the S & P 500, the Dow Jones Industrials and the Nasdaq 100. The long term picture has not changed and the technical formations are still there and pointing to a major correction in the markets.
I also look briefly at the weekly charts of gold and silver and the prospects for the precious metals.
My conclusion today is that even though the monetary and governmental authorities can and do manipulate markets they are not powerful enough to go against the tide of the credit cycle once it turns and the bond market with the recent inversion from 3-month to 10-year yields are now definitely pointing to an impending economic slowdown and very possibly a recession.
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Mother of All Head & Shoulders Pointing to 37.5% Drop In S & P Index. Part 1.:
