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As big a fan as I am of gold, I’d like to point out that it seems to have exhausted itself for now. GLD has a price gap at 310.31. Considering that the other “anti-dollar” trade, Bitcoin, is up thousands of dollars to a record high, this is a pretty dismal performance from gold. Shorting GLD with a tight-stop seems like an intriguing risk/reward ratio.
Sorry to keep mentioning palladium (wait, why am I apologizing for bringing this to your attention weeks ago???) but I wanted to highlight the fact that the base has completed, and the /PA price has reached escape velocity.
Anything that’s not a dollar is rocking the free world. SLV, long a favorite here on Slope, is lurching anew to multi-year highs.
We’ve got red futures quotes for the equity markets for a change, which is welcome. I must say, with all the trade announcements, the fact the market hasn’t BUDGED for over a week is kind of indicative of how little the market cares about the trade wars anymore.
These same announcements would have had us crashing back in early April, but as it is now, it’s just a giant shrug of the shoulders, as illustrated by the /NQ:
