The Spyder started to correct and doesn't seem finished.
The Hot Money is out of the game.
The Banks have already taken a beating and could see some more.
The longer term Exhaustion chart shows that we are at a crossroads where Mr. Market has to decide whether he wants to rhyme with 2007, 2000 or whether the Central Banks can buy some more time.
Oil takes side for the bearish case after this beautiful last exhaustive move up (assuming no war in the Middle East).
The precious metals show 2 potential paths: One with more downside action and the other where we could see some neg. Divergence developping and thus more bullish price action.
No comments:
Post a Comment