This may sound like a Captain Obvious post now, but Europe’s pervasive risk ‘ON’ atmosphere was not so obvious last year when NFTRH began tracking the bottoming patterns on the monthly charts of PIIGS members Italy (EWI) and Spain (EWP).
This may sound like a Captain Obvious post now, but Europe’s pervasive risk ‘ON’ atmosphere was not so obvious last year when NFTRH began tracking the bottoming patterns on the monthly charts of PIIGS members Italy (EWI) and Spain (EWP). Here is the Spanish 10 year bond yield showing an utter lack of fear akin to our own US-centric lust for junk bonds and their diminished yields.
Source: Bloomberg
Here is the chart of EWP, now refined to a weekly view.
Here is gold as measured in Euros.
For “best of breed” top-down macro analysis and market strategy covering Precious Metals, Commodities, Stocks and much more, subscribe to NFTRH Premium, which includes a comprehensive weekly market report, detailed NFTRH+ updates and chart/trade setup ideas, and Daily Market Notes. Receive actionable (free) public content at NFTRH.com and subscribe to our free Substack. Follow via X @NFTRHgt and BlueSky @nftrh.bsky.social, and subscribe to our YouTube Channel. Finally, watch for ANS coming soon and check out Hammer’s trade (long and/or short) setups.
Comments
Log in or sign up to join the conversation.