Sorry Gang – I’ve been remiss in my duties… with viable excuse though. What family doesn’t occasionally take a few days off? We returned from a mini-getaway over the weekend yesterday. I’ll give you a hint: big ears and fireworks.
The funny thing is, after being away for only a handful of days (and being admittedly unplugged from reality), I feel a bit like Gulliver waking up from a long nap. Over the weekend we’ve had a threat of Chinese pull-back potentially substantiated by a pull-back in Copper; we’ve had basically no movement on the whole Ukraine/Russia deal; heck, we’ve even lost an entire airliner (not funny, but it sure sounds that way to say it); and… oh wait, besides the missing plane, none of this is new at all. The story is still about Central Bank meddling and what that means to all of us. Where are interest rates? Hmmm… 10-year yields are at like 2.77. Let me see… yep – equities are still the prettiest horse in the glue factory (at least for now).
Here’s the chart that you’ve been waiting for… and the key support/consolidation area around 1850… I’ll try to flesh more out tonight and on the forum call tomorrow.
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