Stocks were off a bit today.
There is going to be a correction. Once it gets rolling it could gain some serious downside momentum.
Gold and silver took the usual post Comex option expiration hit.
Why? When you hold a call option that is 'in the money' you are rewarded with new long futures contracts.
And typically based on the numbers those new holders of contracts get a serious gut check before the market normalizes.
VIX is low again, and is certainly mispricing risk in my judgement.
The Dollar is still doing the sideways chop. The DXY is heavily weighted to the euro, and the European leadership is hapless.
Speaking of which, have you noticed how so many Western leaders have abysmal approval ratings?
I have included a chart of this below.
Let's see what happens.
Have a pleasant evening.
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