The major caveat being that the Baltic Dry Index is a calculation, not a readily TA-able index. But the calculation of shipping rates has been dropping for a few weeks now, and has broken back below the neckline of the “complex Inverted Head & Shoulders” * pattern. Of more importance, in declining it is diverging commodities, which have been firm but not followed BDI upward … Continue reading BDI Diverging Global Growth?
Well, to answer the closing thought in this morning’s post… So anyway, we’ve got a pretty good jump in the VIX and we will soon see if it is the start of something or just another Micro Blip ™. Serving up Micro Blip ™ number 8, at least insofar as it fueled the market back to near and in some cases above its previous high. … Continue reading Serving Up One Micro Blip, Gold Pompoms Dealt With (correction added)
We have had an ongoing theme in NFTRH tracking how the market periodically gets the jitters to just enough of a degree as to reset sentiment on the micro-term in order to set the bull up to shove it down the shorts’ throats once again. I’ve called these little events “micro blips” (™). Using the 120 minute VIX chart we noted some real humdingers to … Continue reading Volatility: Was Yesterday Another Micro Blip?
