Loading ...Eco Data was a mixed bag – as expected pretty much. Personal consumption missed. Est. was 0.5%, actual 0.4%. I think that is the most important number because it indicates spending is falling, even in a month where gas prices rose pretty well. So, IMHO, people are still spending on gas because they have to, but on everything else they are pairing back.
May be why the favorable reaction in bonds – or not. Dollar is creeping higher but hasn’t struck down the metals yet. Silver is right there at a huge level that needs to break higher. SLV $21.50 is where the 50 and 200 dma’s meet. It has to break above that level with authority and run for a few days. Silver shares are firm, but not exploding, so they’ve got to really confirm IMHO.
Ipso – so far, it looks like you’ve brought your good fortune with you. 🙂