The Fed’s balance sheet and US banking indicators remain in the calm before the storm. Or to borrow another cliché, we’re waiting for the other shoes to drop. There are two of them. One will be when the Fed commences actual balance sheet reductions. The other will be when Congress raises the debt limit. Those two events will signal the…
Pro Trader Latest Reports for Subscribers
Precious Metals Pro
Gold Firms But Conditions Still Questionable
by Lee Adler •
Short term cycles have bottomed but longer term cycles remain in limbo. Here’s what to look for.
Market Update Pro
Charts Still Not Looking Good For Bears
by Lee Adler •
The down phases in the 6 and 10-12 month cycles have only manifest as slowing upside momentum as prices have continued to trend higher. Market Update Pro subscribers click here to download the complete market update, including the proprietary cycle screens report in pdf format. Not yet a subscriber? Try the Market Update Pro risk free for 90 days If, within…
Treasury Supply and Demand Pro Trader
The Burden of Proof is on the Bond Bulls
by Lee Adler •
A bond rally is due, but any rally will be a selling opportunity.
Precious Metals Pro
Gold Threatens Another Support Level
by Lee Adler •
Gold is now testing support in the 1200-1210 area after breaking down from a triangle pattern. Such breaks are usually bearish.
Market Update Pro
Signs of A Playable Short Term Rally Before Major Top Is Complete
by Lee Adler •
The SPX remains in a short term downtrend channel. But short term cycles are due for up phases beginning now. An apparent top pattern with a neckline around 2420 was briefly broken to the downside before rebounding Friday. Is it really a top, or just a consolidation? Market Update Pro subscribers click here to download the complete market update, including the…
Treasury Supply and Demand Pro Trader
US Continuing to Issue New Debt Despite Debt Ceiling, Is A Time Bomb
by Lee Adler •
The Federal Government has continued to issue new debt despite the debt ceiling. It has done so by using its big pile of cash to pay down the debt it owes to Social Security and to government and military pension fund beneficiaries. That internal debt is included in the debt subject to limit. By paying down the internal debt, the…
US Federal Revenues Pro Trader Report
Strength In Tax Data Tells Us: Panic Now, Avoid the Rush
by Lee Adler •
It’s boom time again in America. The tax data for June tells us that animal spirits have returned. Data from the US Treasury’s Daily Treasury Statement showed that taxes zoomed higher virtually across the board, after a weak start to the month.
Precious Metals Pro
Gold Triangulates a Trend Break
by Lee Adler •
Gold has broken down from a triangle pattern.
Macro Liquidity Pro Trader
Where Did All The TLTRO Go?
by Lee Adler •
We keep seeing reports that economic growth is breaking out in Europe. Wall Street in recent months has been touting “undervalued” European equities. Undervalued compared to what? The hysterical valuations in the US? None of this claptrap squares with the ECB’s monthly data on bank balance sheets. From that perspective, the European economy remains dead in the water. Meanwhile the…
Precious Metals Pro
Precious Metals Trading Picks Update
by Lee Adler •
Just a quick update this morning. The next complete report will be posted on Wednesday morning. Have a great holiday! Please be sure to visit New Jersey State Parks and say hello to Governor Christie.
Market Update Pro
We Are Now Net Short But Watchful
by Lee Adler •
Both 6 month and 10-12 month cycle indicators now suggest that the market is topping out. But there are caveats. Market Update Pro subscribers click here to download the complete market update, including the proprietary cycle screens report in pdf format. Not yet a subscriber? Try the Market Update Pro risk free for 90 days If, within that time, you don’t…
Posts from Other Publishers
Must Read
Doug Noland: New Age Mandate
by Doug Noland •
A journalist’s question during Mario Draghi’s ECB post-meeting press conference: “…There was a sharp reaction from financial markets to your Sintra speech. You must have looked at the Fed experience of 2013. Is there any concern in the Governing Council that the so-called tantrum or a similar reaction can happen in the eurozone when you start discussing changes in your stance?
Must Read
Don’t Buy the Sears Stock Rally – SHLD Is Doomed
by Money Morning Staff Reports •
Sears stock has surged over 43% in the last month, making investors think it’s a buy.
But we recommend investors stay as far away from Sears stock as possible.
Must Read
Why the Gold Price Could Continue Beyond Today’s 4-Week High
by Peter Krauth •
The gold price is up near its highest level since June 23, putting it on track for a weekly gain of 1.7%.
And we expect it to keep rebounding from recent lows through the second half of 2017.
Must Read
Stocks Drop as Amazon Disrupts Home Improvement
by Garrett Baldwin •
The news today will focus on the conclusion to a busy week of earnings reports and Amazon’s entry into the home improvement market.
Key reports from Honeywell International (NYSE: HON) and General Electric (NYSE: GE) will drive early performance in today’s morning trading session.
Must Read
Meow
by James Howard Kunstler •
For all his blunders and stumbles in his first half-year as President (cough cough), Donald Trump seems to have more lives than Schrödinger’s Cat. Or maybe it just seems that way. Or maybe he isn’t really there at all
Must Read
When We Can No Longer Tell the Truth…
by Charles Hugh Smith •
Lies, half-truths and cover-ups are all manifestations of fatal weakness.When we can no longer tell the truth because the truth will bring the whole rotten, fragile status quo down in a heap of broken promises and lies, we’ve reached the perfectio…
Must Read
Euro Area’s Great non-Deleveraging
by Constantin Gurdgiev •
A neat data summary for the European ‘real economic debt’ dynamics since 2006:In the nutshell, the Euro area recovery:Government debt to GDP ratio is up from the average of 66% in 2006-2007 to 89% in 2016;Corporate debt to GDP ratio is up from the aver…
Must Read
World Stock Markets Firmer; ECB Meeting Conclusion Awaited
by Jim Wyckoff •
(Kitco News) – Most world stock markets were firmer overnight, continuing to see upside support from generally upbeat corporate earnings reports. U.S. stock indexes hit record highs on Wednesday and are poised to move still higher when the New York day session begins.
Must Read
The Death Spiral of Financialization
by Charles Hugh Smith •
Each new policy destroys another level of prudent fiscal/financial discipline. The primary driver of our economy–financialization–is in a death spiral. Financialization substitutes expansion of interest, leverage and speculation for real-wo…
Must Read
The Plural of Anecdotes Is Beige
by Jeffrey P. Snider •
As noted before, the Federal Reserve’s Beige Book collection of local bank district anecdotes are fascinating for all the wrong reasons. What is revealed is not the state of the economy, but rather the state of how policymakers perceive or often wish the economy was at various points. If the 2007 Beige Books are a…
