Of course, markets top out when everything looks magnificent and they couldn’t look much brighter than they do right now. Here are the details on real time US Federal government cash flows this week, and what they mean for the markets, along with a brief on Japan giving US a BoJob.
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Cycle screening measures remain extremely strong. The last time the aggregate measure was above +1000 for 8 straight days was in October of last year, and before that, March 2009. But it may not mean the same thing this time. This report covers what the numbers portend.
Gold is going the way of Mr. Hanky the Christmas Poo this morning. Precious metals stocks are also in an outright crash. This report covers the revised short term through long term price targets for the metal and the precious metals stock sector.
Early openers forging ahead: Kiwis and Aussies +0.6%, Nikkei +1.7% and Sth Korea +0.2%.
In Aussie sectors, Gold doing it tough, -3.2% with REITS +1% the biggest gainer.
The market meltup continues, with the SPX barely hanging on to the trendline that defines the angle of ascent. 2005 is the level it needs to reach and hold on Friday to maintain that trend. Cycle projections rose. This report covers what that means.
The markets have held up remarkably well while facing a big Treasury settlement on Friday that will suck cash out of the accounts of dealers.
Today’s initial third quarter GDP figures show that the solid growth performance was powered largely by a major drop in the inflation-adjusted U.S. trade deficit to its lowest quarterly level since the start of 2010.