From the Desk of Ian Culley
It’s impossible to ignore – investors are reaching for risk.
Biotech stocks are catching higher. Copper futures are working on their tenth up-day in a row. Even the Emerging Market HY Bond ETF $EMHY is breaking to 7-month highs as it completes a multi-month base.
And don’t forget about Silver! Gold’s crazy cousin has proven by far the best-performing asset since the US dollar peaked last fall. Strength among these market areas indicates a healthy risk appetite.
I can’t overlook these signs of a constructive bottoming process, especially considering the next chart…