Dividend unadjusted HYG broke down a few days ago and for months now we’ve been noting the breakdowns vs. Treasury and Investment Grade. But today divy adjusted HYG has slipped below the SMA 50. So at the moment at least, the stock market may be losing one of its risk ‘on’ guides. Subscribe to NFTRH Premium (monthly at USD $33.50 or a 14% discounted yearly … Continue reading Junk finally cracks
In the previous post I noted I am wrong on gold *, at least in-day. In this post I am neither right nor wrong, as the view of copper was that it had dropped to key short-term support; nothing more, nothing less, but was looking suspect. Well today Doc found his prescription pad and he’s about to start scribbling words like “counter-cyclical” and “bearish”. The … Continue reading And then there’s Doctor Copper
Today’s futures chart, in-day says “yeah Gary, you’re wrong on gold”. The parameter was a break of the dotted neckline, the wedge and SMA 50, which are all at the same spot. It could well be a whipsaw, but I’ll probably take a loss on the gold short and just let miner positions and cash act as ballast to the stock market for now as … Continue reading Wrong on Gold?
