In the land of indicators, there is just as much confusion as there is in the land of asset markets. In the markets it’s gold miners up, down, up… stock market up… and up again. Okay, well global stock markets are a little more jumpy, anyway. Oil likes the Republicans for a day and then is down again.
But what to make of the indicators? Some indicators are economy and market negative, while other are just fine. Looking at just 3 of them, Uncle buck is up (or UUP) again today, but the Gold-Silver ratio is down and possibly a divergence as UUP is after all, approaching a measurement from the little pattern at roughly 23.50.
Also, the TIP-TLT ratio is trying to be sneaky today with a little bump up in the ‘inflation expectations’ meter (within a still strong intermediate downtrend).
Interesting, like most of the rest of the current global market environment.
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