All durations are up in yield with the curve dropping hard. This implies risk is ‘ON’ beneath the market’s jittery psyche.* But it’s just one day’s alignment. It’s also bearish toward gold today, and this has been a trend for a long time now. * By this individual indicator at least. Junk bonds for instance are and have been screaming risk ‘OFF’. Tough market. Subscribe … Continue reading Yield Curve Today
We have been noting the bearish state of the gold miners for all too long now; most recently in NFTRH 321. But at some point I have got to believe that given a continued fundamental improvement and clearing of tax loss season, an opportunity is coming. Meanwhile, here’s the last straw breaking on the short-term view of GDX. Is it leading gold and silver or … Continue reading GDX Stinks
 okay now they are flirting with abnormal I know it sounds weird on a day when gold bugs are being scattered back down Hamburger Hill, but gold (GLD) is still normal by its daily chart. Sorry, but at 2:17 ET on Monday (of Fed week no less) it’s chart is still normal. Indeed, I had been expecting a touch of the lower channel line … Continue reading Gold & Silver Today
Stock Market to Janet Yellen: “I dare you to talk tough about Fed Funds rates. I double dare you!” SPY is at our NFTRH+ target, which does not mean it needs to stop dropping yet. But it is at our conservative target. Continue reading Stock Market to Yellen
At the prodding of an NFTRH subscriber who was combing through old issues, I went back and read NFTRH 7, from November of 2008 and was struck by how things have really not changed in the last 6 years of non-stop inflationary policy; they have intensified and gone global, but the mechanics have not changed. The current inflation operation is failing world-wide, with the US … Continue reading Deflation or Inflation?