Everyone’s been focused on the recent reversal in gold, bonds, and Growth:Value:
Does this rally have legs?
I think there could be one leg lower before this complex ultimately bottoms (ie. one last boost higher in the reflation trade). Here are some key charts I’m watching.
Growth/Value, Daily. At resistance.
Copper/Gold, Weekly. Tight coil within a strong uptrend. Looks ready to breakout.
COPX, Daily. Copper producers have made a breakout.
TNX, Monthly. 10-year yield is still above the key breakout level.
The following several days should be a big tell.
Important Disclaimer: This blog is for educational purposes only. I am not a financial advisor and nothing I post is investment advice. The securities I discuss are considered highly risky so do your own due diligence.