The spokesmodels were all smiles on the open, as another dramatic overnight plunge in the futures markets was seemingly reversed, and brought back to nearly unchanged.
But alas, the markets had an epiphany of sorts.
And the perception of risk and its implications came home to roost, with a vengeance.
Stocks reversed again, and started falling in that most deadly sort of bearish dance, a controlled, orderly descent.
We may see more volatility and downside, until we reach some sort of denouement, and perhaps a capitulation.
Remember the pattern: we have a blow off top, with several failed rallies at lower highs.
Gold and the Dollar were the safe havens of choice.
Gold managed to take and hold $2,000.
Who could have seen it coming?
Despite an early spike higher, silver gave up much of its gains as it was pulled down in the relentless equity selling.
Unfortunately silver has a correlation to equities in addition to its character as a precious metal.
Bitcoin, aka digital gold, declined again.
Crypto has a correlation to pokemon cards.
There are some potential implications on the physical gold supply in London, given the potential blocking or Russian refiners.
Oil is rocketing. And in the U.S. probably excessively so.
And so are the prices at the pump, as the gas monopolies are looking to cash in quickly and establish a pattern of price inflation.
Let's see how the rest of the week goes.
Have a pleasant evening.
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