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Here we go again w/ the red lines “to da moon” Gary. The $USD’s early May ’14 low is holding, price is above the 50 AND 200 DNA’ s and we’ve got crop yield estimates smashing all-record time records. The jury is still out but $WTIC’s IC could have already topped and the current daily and intermediate cycles could be left translated, but we’ll just have to see what happens? While I agree that smart money is exiting the stock market I don’t believe it’s leaking into commodities. Where I’m seeing liquidity from the stock market landing is FDIC insured bank deposits and savings accounts that return .75 to .95 boys. The smartest of the smart money knows the equity and bond markets are central bank induced bubbles and it’s not if but when we’re going to see a replay of 2000-2002 and/or 2007-2009. By the way, why not take advantage of the “manipulation” in COMEX and stack physical instead of whine about it? 😉
As you already know my arrows are to show trajectory only. They are never intended as targets.
And whose whining about the metals? We locked in a profit in 4 weeks that any hedge fund would be ecstatic to achieve in a year.
There are big BOW numbers in IWM and SPY today. Smart money is divided?
I doubt the Fed allows any serious move down ahead of the FOMC meeting.