As I stand here in the wake of the explosive news about AAPL and the virus, we have IWM up 0.03%. So, yeah, quite the panic out there. But let’s catch up, in broad terms, with my “bearish equities, bullish bonds, bullish golds” triumvirate, by way of the brave of the the U.S.S. Enterprise (1966 edition). We begin with equities, the James Kirk of the trio.
Swashbuckling, handsome, and carousing, equities are everyone’s favorite. It’s the thing everyone wants to see succeed. Dear as Tiberius is to my heart, though, my view is that it’s just scraping along the underside of a trendline and will eventually give way to exhaustion.
Next we have bonds, represented by the ZB futures contract.
Sensible. Logical. Calculating. Bonds aren’t exciting, but they are smart. And ZB’s triumphant breakout above its trendline, weeks ago, was the event that clinched it for me.
Finally, we have gold, via the GC contract.
Prone to emotion. Volatile. Passionate. Yet always well-intentioned. Leonard “Gold” McCoy has completed a marvelous cup with handle pattern, and I see bright days ahead.
Kirk out.
