Financial News vs. Noise
Just because we are seeing divergences and negative breadth doesn’t mean the market has to come down. We now have more short setups than we have had for a while. These models only short on pops of 2-4% so none of them may end up triggering, just shows things are a bit overbought short term.
Rates popped a bit yesterday and look up a bit this morning. Something to keep an eye on.
Speaking of divergences the Dow and Small Caps look a bit better, but still not great. The Dow did have an undercut and rally at it’s 50 day.
Central Banks Expect to Snap Up More Gold This Year Amid Dollar Pessimism-WSJ
Something has been driving gold. GLD actually looks like it may be a bit of a double top here.
TIPs suck. Here’s when the inflation-fighting power of TIPS bonds and ETFs really kicks in-MarketWatch
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