A short snapshot of a couple items for your review.
The USD index (DXY) is testing the SMA 50 right now. It never made it to our target at the SMA 200, but came fairly close. The way things look right now, the elements that could support Uncle Buck are an FOMC that fails to follow the script that Goldman Sachs has written for it (no rate hike) or the markets fold into a liquidity crisis.
For the live versions of the charts below and several others, you can always review the NFTRH Charts/Indicators page.
Meanwhile, gold is outperforming ‘inflation expectations’ and that will benefit our favored macro plans if it continues; and frankly, I can’t see why it would not continue.
Our favored interim scenario is still alive as well. That – insofar as we would be bullish on stocks, Tech would continue to lead within a disinflationary backdrop – remains in play as well as Tech (QQQ) is still leading broad (SPY).
