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.
Completed Base
Slope of Hope Blog Posts
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Metal Champs
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.
Red in the Right Places
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:
The PALL Oddity
I realize that trading hours can influence the net percentage change of different financial instruments, particular when it comes to precious metals. I was struck, however, by the fact that palladium futures are up 6.22% as of this moment whereas PALL is up only 4%. I then decided to look at a ratio chart of the two, which I figured would be a straight line across the screen, but……….nope. Any ideas on this strange relationship?
Powerful Palladium
Although the equity futures such as the /NQ are continuing in their directionless, meandering, maddening drift, day after day………
