Equities are sharply lower, but so far, they haven't dropped as much as they "should." If they hold on, or better, rally after lunch, we could see an end to selling sooner rather than later.
Despite Standard & Poor's efforts to undermine the (rather randomly run) US political process, the US bond market looks strong indeed. Hard to square that with hopes of an equities rally, but there it is.
Crude is down to $83, and copper is at $4, a 7 day drop of 11% or so, quite a lot for copper.
Ozzies have done nothing but go down for six days, and have given up 7¢ to the USD. Now they are, surprise, oversold -- as they were Friday.
€ and £ continue to go up yesterday, down today, sideways net. No decisions in the offing, at least none visible on the charts.USD continue to rally against $C. Another penny or so will bring parity, which we haven't had since January.
Gold is in the clouds. Looks like a good time to release any longs. Silver is not joining the tea party, which implies that gold's lofty price is craziness. But gold bugs are crazy and anyone who thinks gold and silver are the correct currency is worse than crazy.
Despite Standard & Poor's efforts to undermine the (rather randomly run) US political process, the US bond market looks strong indeed. Hard to square that with hopes of an equities rally, but there it is.
Crude is down to $83, and copper is at $4, a 7 day drop of 11% or so, quite a lot for copper.
Ozzies have done nothing but go down for six days, and have given up 7¢ to the USD. Now they are, surprise, oversold -- as they were Friday.
€ and £ continue to go up yesterday, down today, sideways net. No decisions in the offing, at least none visible on the charts.USD continue to rally against $C. Another penny or so will bring parity, which we haven't had since January.
Gold is in the clouds. Looks like a good time to release any longs. Silver is not joining the tea party, which implies that gold's lofty price is craziness. But gold bugs are crazy and anyone who thinks gold and silver are the correct currency is worse than crazy.
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