NFTRH 562’s Wrap Up segment, which is placed early in the report on page 3 but is written after the work is done, was per the screenshot below. The term “sell the news” popped up a few times in #562 and boy did those Algos ever hold true to form. It’s actually funny, in a robotic sort of way. Think like a machine, folks.
I didn’t want to scare anyone, but I did want us all to be aware of dynamics in play this week against overbought precious metals and stocks (which remain at a very important macro-technical decision point). I just made up that term, “macro-technical”. Sounds important, doesn’t it?
Anyway, a related theme that wove through NFTRH 562 was that if the precious metals sell off the stock market had damn well also sell the news. As of this moment, a key macro fundamental sign post is intact for gold bugs. Here’s the SPY/GLD ratio.
Here’s the screenshot of the Wrap Up segment. Pertinent sections are highlighted. So we were completely ready for today. But speaking personally, even though I took several measures in hindsight I feel I didn’t take enough of them. Got to love the markets. Actually, I’m fairly happy with my balance right now. Let’s see how the week closes and August goes as our panel of eggheads ride off into the sunset of another FOMC meeting.
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