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Today, US stocks were not successful in issuing a counterpunch to yesterday’s bloodbath, when there were 11 stocks down for every 1 up. Stocks staged a meager rally after opening – only to swoon late and close at new lows for 2010. As you can see from the chart below, the S&P 500 peaked in […]
Yesterday we mused that a turning point may be appearing in the markets, as indicated by the negative divergences that are popping up. In a rare act of God, we were right! Well, at least for a day. And they’ll never be able to take that away from us. Stocks, commodities, and just about everything […]
Asset prices are continuing to decouple, slowly but surely, it appears. Today, equities and energy were up big – while the rest of the commodity sectors had a bad case of “The Mondays”: Why is this potentially significant? Because markets have been moving more or less in tandem for 5 or 6 years now – […]
Gold is one of the lone green spots on the screen today, as the markets get clobbered across the board. You could cite the latest sovereign debt downgrade, but in reality, this is not exactly breaking news by any means. Any trader with a few working brain cells saw this writing on the wall. In […]
So Gold CAN Still Go Down, After All Last week was shaping up to be another banner one for gold, as the old relic kept on climbing, day after day…that is, until it stopped. Gold’s one-way rise experienced a sharp setback on Friday, dropping nearly $50 on the day, and over $60 in intraday measures. […]
Dubai’s Meltdown The Thanksgiving holiday is traditionally a very slow time for the markets…not so this year! Dubai rocked the financial world with its announcement to debtors that it needed a bit more time to make good on outstanding debt payments. Uh oh – here we go again? Global markets reacted quite violently to the […]
This shot says it all – the “all the same markets” hypothesis is still in play. Why bother with diversification when all the markets move in tandem? (Source: Barchart.com) Hat tip to Robert Prechter, who I believe was the first to point out the increasing correlation between every asset class, as far back as 2004. […]
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