![DJI Both Vying for and Augmenting Copper's Status as the Nikkei's Rosetta Stone](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-25-Nikkei-vs.-Copper-Secular-Bear-to-Secular-Bull-Analog-Weekly.png?resize=150%2C150)
DJI Both Vying for and Augmenting Copper’s Status as the Nikkei’s Rosetta Stone
Over two years ago we began highlighting the similarities b/t the way the copper and the Nikkei ended their secular bears over the 1989-2002 and 1989-2008 periods, respectively. Specifically, we focused on the last few years in each of those…...
![Gaining Additional Nikkei Clarity](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-24-Nikkei-vs.-DJI-1935-vs.-Copper-2006-Descending-Wedge-Corrections-Daily.png?resize=150%2C150)
Gaining Additional Nikkei Clarity
Last week as the Nikkei began to break down on our post-pivot analog relative to expectations I was struggling to ascertain what was going on. We detailed as much in this post and offered a suggestion that despite that deviation in…...
![Repeating Pattern in Long Bond Price Suggests its Decline (Yield Rise) to Accelerate](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-22-30-Yr-UST-Price-Monthly.png?resize=150%2C150)
Repeating Pattern in Long Bond Price Suggests its Decline (Yield Rise) to Accelerate
Following up on what we envisioned as its peak (and rates’ trough) from our Feb-2015 post on the subject, at the present time the price of the 30 yr UST is replicating a pattern that has historically signaled the onset…...
![Could Palladium Weakness Spell Similar Trouble for Equities?](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-19-Palladium-vs.-SPX-Daily.png?resize=150%2C150)
Could Palladium Weakness Spell Similar Trouble for Equities?
In an earlier post this week we displayed palladium’s ostensible break below multi-year, long-term trend-line support and suggested that break-down would be apt to precipitate accelerated downside in the commodity, as similar break-downs had in the past. Today we present…...
![Palladium Beginning a Very Large Decline](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-17-Palladium-Daily.png?resize=150%2C150)
Palladium Beginning a Very Large Decline
In the chart below each of (A)-(D) have seen palladium break through muli-year trend-line support, thus ushering in quick, precipitous declines in the commodity when they’ve occurred. I believe a similar such break-down is occurring this week atop line (E)…...
![Market Internals Don't Appear to Portend Material Price Deterioration](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-16-Ratio-NYSE-Adv-vs.-Dec-10-day-MA.png?resize=150%2C150)
Market Internals Don’t Appear to Portend Material Price Deterioration
Below you’ll find a chart of the NYSE adv/dec ratio on a 10 day MA basis with the SPX below it. Since the mid 2000s note that larger corrections (i.e., >8%) have been almost universally preceded by deteriorating, downward-sloping trend…...
![More Nikkei Short-Termism & Analog Update](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-11-Nikkei-Futures-350-bps-Swing-in-10-Hours-Analysis-Hourly.png?resize=150%2C150)
More Nikkei Short-Termism & Analog Update
After correcting ~250 bps into Wednesday 6/10 of this week, the Nikkei rebounded sharply last night. This transition to strength from weakness over the past day resulted in a ~350 bps swing in the U.S. futures contract’s 10 hour RoC…...
![Silver Malaise Nearly Unprecedented](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-03-Silver-YoY-Comps-Less-than-Zero-in-at-Least-88-Percent-of-Trailing-170-Weeks.png?resize=150%2C150)
Silver Malaise Nearly Unprecedented
What we’re about to do in this post with silver is highly similar to the analysis we presented on China in early Jul-12 in this post where we suggested the region’s equities, despite Barron’s call for a credit crisis to…...
![Where Did All the Equity VOL Go?](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/06/2015-06-03-DJI-880-Consecutive-Trading-Days-wo-Three-Percent-Move-Daily.png?resize=150%2C150)
Where Did All the Equity VOL Go?
Much has been made of late about the absence of domestic equity market VOL; seemingly, much of that VOL, or at least the pretense of it in the financial press, appears to be focused on global sovereign debt instead. I decided…...