Industrial Metals Breaking Down Again

It sure is not positive economic – or for that matter inflationary – signaling as Industrial Metals lose the short-term consolidation and break down on Monday and Tuesday.

gyx

That also goes for the GYX/Gold ratio. Not economically positive and not inflation-positive.

gyx/gold

Whether or not today is the start of a real rally, the stock market is technically damaged and the indicators are burping up signals contrary to the bull case. That goes for the inflation bulls too.

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