The summer (inflation) cool down continues… We anticipated it in NFTRH well ahead of time using the (monthly 30yr yield) Continuum as a visual guide. The idea was that the inflation uproar of Q1… …needed to be tamped down, preferably to a roughly symmetrical right side shoulder to the one on the left side of a would-be inverted H&S. While the macro is still in … Continue reading Signs of inflationary reflation running low on gas
Copper (cyclical metal) vs. Gold (counter-cyclical) is breaking suspect Using the ETFs (CPER & GLD) we find a fairly nasty looking potential shaping up in the Copper/Gold ratio. Despite America’s roads & bridges (etc.) bailout the balance of the world is questioning the reflation of which Doctor Copper is a primary player. Sure, I know. Copper’s supply/demand fundamentals are good and the trend is up … Continue reading Copper/Gold ratio suddenly not looking so good
The copper price is testing daily chart support It’s not just copper that is calling the inflation-fueled reflation view to task. Long-term yields and ‘inflation expectations’ gauges are as well. All this after the government’s pork barrel of spending budged my 60% lean inflationary to a mushy 60 to 70% lean. But the contrarian view is for the damn inflation to fail despite the ‘INFLATION!!!’ … Continue reading Doctor Copper questioning reflation?