From the Desk of Ian Culley @IanCulley
Mark it, dude.
We have another bearish divergence calling strike three on the stock market rally…
High-yield bonds $HYG versus US Treasuries $IEI.
Expert technical analysis of financial markets by JC Parets
by Ian Culley
From the Desk of Ian Culley @IanCulley
Mark it, dude.
We have another bearish divergence calling strike three on the stock market rally…
High-yield bonds $HYG versus US Treasuries $IEI.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Cattle futures are defying gravity.
Unlike most commodities during this cycle (pick your favorite base metal or grain contract), cattle have yet to correct lower.
Instead, they’re still hanging around new all-time highs.
Something has to give…
by Ian Culley
From the Desk of Ian Culley @IanCulley
So much for buying the Japanese yen.
Forex markets are taking a shot at the Japanese currency as the aussie, kiwi, and Canadian dollars post fresh decade highs versus the yen.
Not to be outdone, the USD/JPY pair is printing its highest daily close since April 1990!
by Ian Culley
From the Desk of Ian Culley @IanCulley
Gold bugs have seen brighter days.
Silver is underperforming Gold. The corrections in Platinum and Palladium are burrowing deeper beneath our breakout levels. And the Gold Miners ETF $GDX is printing fresh lows versus the broader market.
It doesn’t sound bullish to me.
Yet gold futures are solid as a rock!
by Ian Culley
From the Desk of Ian Culley @IanCulley
I’m avoiding the US dollar and interest rate chopfest.
That includes interest rate-sensitive commodities like crude, copper, and gold.
So, let’s check in with a commodity group that walks to the beat of its own drum…
by Ian Culley
From the Desk of Ian Culley @IanCulley
The Nasdaq is ripping to new all-time highs. NVIDIA’s market cap is surpassing the three-trillion-dollar mark. And US T-bonds are registering another buy signal.
But the market’s still a mess.
Just look at yesterday’s intraday reversal—a bullish reaction to inflation data in the morning, followed by a bearish reaction to the FOMC meeting in the afternoon. Investors are still trying to make sense of the mid-week hoopla.
Friday’s close (the most important data point of the week) will reveal critical information regarding market conviction heading into the weekend.
Meanwhile, you can track high-yield bonds for risk-on confirmation.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Check out these currency headlines:
Investors Sideline a Defiant Dollar…
Dollar Down? The 10-Year Says “Yes!”…
Weighing a Potential Dollar Breakdown…
Well, which is it? Is the dollar going up… or down?
I have no idea.
But given the market’s current shape, your best forex bets are to short the euro and buy the yen…
by Ian Culley
From the Desk of Ian Culley @IanCulley
Metals bulls are waking up following last week’s selling pressure.
Copper, silver, platinum: It didn’t matter. Base and precious metals took a hit.
It was ugly but not a complete disaster.
Call me a gold bug if you like (I won’t take offense), but don’t overlook the key takeaway from last week’s session: gold’s resilience.