As the latest tempest-in-a-teapot from the Kim clan has been brewing during the long weekend, those of us who have become cynical about the abilities of the market to fall based on ANY kind of news have been confirmed. Because in spite of a mildly decent dip in the dollar…….
…….equity markets could hardly care less, as they are down only slightly, having shaken off the modest drop ES and NQ experienced starting on Sunday afternoon……….
This is becoming very much a “boy who cried wolf” situation, with Chubby Cheeks being the “boy” in question. If and only if the “wolf” actually bites will the world markets care (and, at this point, I’m not sure even then – – because strong bull markets are trained to spin ANY news as positive, sooner or later).
One market which is not really caring much about geopolitics but is very much concerned with yet another huge hurricane coming toward the US is crude oil. People have barely caught their breath from Harvey’s damage (Texas), and now Florida is in the crosshairs with an even stronger storm (Irma) heading straight for it.