Macro Whipsaw Continues in Metallic Indicators

Here is just one picture from said whipsaw, and its an important one as a cyclical indicator; Industrial Metals (positively correlated to the economy) and gold (generally negatively so).

A really nice breakdown in IM/Gold was followed by a neck snapping spike and now… down periscope.

The weekly goes from breakdown to fully intact to suspect again.

I do not post here pretending that I have the answers. I am just a geek with indicators staying balanced in my positioning and honing the view each week. But man, this is annoying isn’t it? Imagine how many players (other than day traders who I a assume like this) the world over are frustrated right now.

I think this activity, when filtered through a lens of calm reflection and interpretation, is indicative of potential changes (the bad kind). But it’s a process and the market is doing its best to frustrate everybody as the process moves forward. Oh and by the way, if I am a raving, momo chasing bull I don’t much care for that Intel, Amazon and Microsoft earnings hype blast and reversal in NDX.

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