Since it appears the loftiest thing the citizens of the United States can seem to discuss is either
(a) which Mario Kart character the POTUS’ wanger most closely resembles; or
(b) whether or not two felt puppets are actually gay or not (see image to the right)
Then I guess I’d better just repeat what I did yesterday and sing The Alphabet Song. Or, more precisely, share with you what I thought were interesting charts as I thumbed through my ETF watch list from A to Z. Some will be repeats from yesterday, and some others will not.
I’d be lying if I said I wasn’t disappointed in the action on Tuesday. Although I’ve been through enough disappointment to not get excited about a big double-digit drop on both ES and NQ during nighttime trading, even I wasn’t cynical enough to think that ratcheting up the trade war would actually push markets to lifetime highs in some cases. And yet that’s precisely what happened.
So here we go again.
First off we have commodities, by way of DBA. In spite of oil’s crazy strength in recent months, my view is that commodities in general are more inclined to weakness than continued strength for the balance of the year. (more…)