Red equities and green metals. That’s all I really ask! And, at the start of Wednesday (which still feels like Tuesday, thanks to another stupid holiday), that’s what I’ve got. Here we see /YM slightly in the red, pre-open:
Longer-term, witness the insane move higher (thanks to Powell’s completely pointless Jackson Hole speech a couple of Fridays ago), most of which has been undone. And rightly so since, again, the speech was totally pointless and won’t solve anyone’s problems. It’s all just P.R. crap.
If you study this chart long and hard, I think you can tease out a general trend for gold, which is at yet another lifetime high.
My buddy palladium is also doing nicely, notching a 2.53% gain in futures just before the opening bell.
On the earnings front, my thesis that “being poor is going to suck” is playing out nicely with Dollar Tree (DLTR):
The daily chart for DLTR shows how much farther it has to go.
Well, the bell just rang, so I’d better scoot. I’ll be back later, just in case the other 43,000 posts I’ve written haven’t demonstrated my commitment quite yet.
