This will be telling. If you refer back to yesterday’s post, which included weekly and monthly charts, you’ll observe that this is basically it, the short-term support level standing between Uncle Buck and the launch of the next round of reflation trades.
But you will also observe that support is intact until it no longer is intact. You may also want to observe the unbridled inflationary speculation going on out there at the hands of the Federal Reserve and its only way out, which is to keep us dancing (to disgusting 70s disco music, no less) in tacky leisure suits trying to attract ladies with too much makeup.
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