Since February 1 it’s all one market arrayed against one market, Uncle Buck. Maybe it should be called the ‘all but one market’ market. Whatever…
We look at some parameters to a stock market melt up vs. interim correction scenario. The SOX will play a key role there. The Semi’s put us on the lookout for economic strength last year and can still play a canary in the coal mine role now.
Global stocks, precious metals, commodities and the all important messages coming out of the bond market are also reviewed. 32 pages with lots of charts. NFTRH 280, out now.
The original intent was as noted here at the site last week, to allow some room to build a bearish case for 3D Systems (DDD). But even with 30 pages that did not happen. Maybe I’ll find time to do it as a public post.
What did happen was a well rounded look at the precious metals along with the usual markets. Also this somehow got into the ‘Wrap Up’ segment…
Guest Analysis by Bob Hoye
I found this chart while rummaging through old NFTRH charts looking for a monthly view of the Semiconductor Index (I’ll find it or create a new one and post shortly) that projected the current level as important resistance… or a seemingly ridiculous upside target would be loaded.
Monthly Gold-CCI shows that with a higher low still intact, we continue on in a macro phase of chronic global economic contraction (against which our heroes have worked their inflationary magic).