cyclingscholar

Thursday Outlook: Commodities, Emerging Markets

Thanks for the brief comment on each chart and your overall perspective on a 'low volume short covering rally" which I have noticed as well in the SPY and DIA indexes.

One comment on the gold H&S: Edwards and MaGee, the tech bible editors, make it clear that a valid H&S top has less volume on the rally to the head than on the left shoulder; this does not appear to be the case with your GLD chart. Still, I agree GLD looks toppy. A multiyear chart shows a triple top at these levels over the last 16 months.

China & Copper: Prepare for Crisis

I love the way the same luddites who doubt US economic data (GDP growth, low inflation) but swallow statistics from China hook, line, and sinker. Thanks for the article. A collapse in commodities and a china scare would lead to a flight to the US dollar.

cyclingscholar