Say, remember when these trade war outbursts would drive the US dollar up and gold down (along w/ the CNY)?
Well, the media think that the Dow is down another 400 points because of trade war fears.
But maybe it is just time for the stock market to go down and for gold and its miners to go up and the trade war is what it is, a wild card challenging the cyclical world with its erratic and hype filled nature.
The stock market is still in the grind pattern and has not yet broken down below the key SPX neckline and the precious metals sector is still generally long-term down trending (with gold in a sideways trend). But this daily assignment of reasons to every damn market twitch is ridiculous.
I know you know full well what I am saying. But millions of casual onlookers think that this process of a normal and necessary unwinding of a massive, policy-induced speculative bubble has to do with these daily anxiety-provoking headlines and the maniac tweeting of a desperate and confused buffoon.
It’s either time now (if the market drops below breakdown parameters) or it will be time, after the grind phase completes. Well, that or my analysis is completely wrong. Here’s weekly SPX, still in ‘do-nothing but grind’ mode.
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