Loading ...Yes, early this am, but things look decent in the overnights.
I think the SM is the only thing they have left that hasn’t been destroyed. The economy is toast. If the super large caps fail, what do pensions look like? The largest of course being Gov’t pensions. I’m sure they’re all stuffed with MSFT, AAPL, AMZN, NVDA, TSLA, big banks and big oil. Those pensions also have treasuries that can’t be doing well. IMHO, Gov’t. pensions are key here in the states. They can get the Gov’t. employees to do their bidding as long as they are feeding them.
Ultimately though, the dollar and inflation will be their undoing. Unless somehow they’ve got it all figured out.
Everything in pm world, and even the DOW, has RSI’s down at 30 or just below, and look to be turning up. GLD and SLV should turn up today with everything else.
Your dollar proxy UUP had an RSI of 75 yesterday, before finally heading down – 69.5 this am but should be time for a breather for the dollar – at least technically – and should continue.
Hopefully this is a violent upside rally for pm’s – so many of the shares hit multi year lows. Oil is a killer though.