Junk finally cracks

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

Wrong on Gold?

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?