I believe the R2K has been in the process of completing a major topping pattern since early 2014, per the chart below, that is similar to the tops it put in place in 1997-1998 and 2006-2008. Each of those patterns takes…...
We began discussing the length of the current bull cycle in Jul-12 in this post; at the time we were at 34 months in duration. In an attempt to be objective, as some will define cycle length to suit some…...
ZH has had much good commentary in recent months on the explosion in Comex open interest in gold (GC) relative to the amount of registered/deliverable physical held in related vaults, noting as recently as late NOV that the ratio had just…...
The WSJ had a piece today on China, alluding to but not explicitly acknowledging its attempt to navigate the impossible trinity. To wit: China guided the yuan to its weakest level in more than four years as the country deals with…...
On 11/16 I highlighted the long-term support the CRB Index was approaching. Three weeks later it has pierced said support. In doing so, it has stepped foot into the “breach”, or what can be seen on the chart below as…...
Last Thurs in this post we explained that we felt that the DAX was foreshadowing a major global equity collapse along the lines of that witnessed in 1937 or 1974. In that post, we used this analog to justify the point…...
In the chart below note that in late Dec-14 the ratio of the DJ Transportation Index vs. SPX hit ~4.40, a level that has historically been consistent with major, secular peaks. Historically, such peaks have resulted in Transports under-performing the…...
Courtesy of ST the following occurred this week: Even with gold itself hitting a new low, the gold mining stock indexes are at least 5% above their own lows. The only other times this has happened, using the HUI Gold…...
To say Draghi underwhelmed today would be an understatement; EUR is +300 bps and DAX is -450 bps while USD is +200 bps, the US long bond is -225 bps and SPX is -100 bps. I hold no position in any…...
As I type spot gold is printing ~$1,055, putting it ~24% below its 4-yr/208-wk MA. This is the first week in 18 it has been this far removed from those MAs as it first breached this threshold the week of 7/31/15 when…...