Whilst working for a large bank, very early in my career, a seasoned commodity and forex trader took me under his wing and became my mentor. An unusual man, he was one of the most successful traders at the bank with a very unique manner of looking at the markets.
He would do his fair share of analysis, debating various market forces, discussing the different outcomes of various models with the team before declaring that the inter-relationships between markets were much to complex for anyone to understand. He would then stand up & proclaim it was time see what "tune the canaries were singing". By this he meant let's just see what the market is doing and see what it tells us.
So let's take his advice, disperse with fancy sounding analysis and just look at some of more interesting charts.
We think that you will see a continuation of the themes discussed in our "Around the Financial Markets in Eight Charts" series.
Disclosure: Long FXA SLV JNK VTI