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The bears put on a brave show yesterday trying to break down through support but the afternoon rally wiped away the losses, and SPX closed well above support at the daily middle band and the 50 DMA. Now, with 16 of the last 18 Tuesday having closed green, the bulls have their shot at breaking out of the current range. SPX daily chart:
There is a lot of talk now about a flattening of the yield curve. This talk has been among the most intense right here at the website you are reading at this moment. A flattening curve is commonly viewed as bad for gold, and according to Mark Hulbert, is an indicator of a coming recession.
Why you should care about the yield curve
But is the curve really flattening or is this all hype based on Janet Yellen’s press conference comments? Here is a chart the likes of which we have been using in NFTRH for many months now, the 30 year vs. the 5 year yield. (more…)
I suspect I’ll be busy dodging bullets for the afternoon, so I’m just going to toss up this fitting image to give me some breathing room while managing my positions through the tumult
By the way, some of you have received spam from the SocialTrade system from a “Victorialilybabe@gmx.com” (or something like that). The system doesn’t “reveal” your email to anyone, although apparently it can still let junk like this find its way to you through SocialTrade. Rest assured we’ll track down this bug and nuke it.
The HUI Gold Bugs index got Ukrained to the extent that global crisis hype seeped into this market leading into the weekend. The S&P 500 got Ukrained the other way as people actually acted as if the Crimea question is a macro fundamental.
Oh man, it just piles up higher and higher.
Yellen is Going to Talk the Markets Up to New Highs
If you can get past the photo that leads this story with your breakfast intact, you will be treated to…
“Asset purchases are not on a preset course,” Yellen told Congress , “and the committee’s decisions about their pace will remain contingent on its outlook for the labor market and inflation.”
Actually the Treasury bond market’s decisions about their pace will remain contingent on yields. (more…)
