The Brains Trust, page-6306

That was the bottom in the US dollar – for now – and it did take Wall Street higher. So looks like there is another move to the topside with the SPX leading the way.

Also supporting the SPX, rates were all higher. Remember this is the opposite to what everyone thinks, but what actually happens is, as rates rise, money runs out of bonds and into stocks.

But look at the ETF (LIT) which obviously stands for lithium. Huge move so that game looks to be still on.

In my notes yesterday, I suggested that gold was going to follow the downside break in copper which unfortunately it has done. There is no doubt about it, when everybody gets bullish, it is time to head for the hills. Analysts that were bearish near the low were calling for a topside break – and this is after gold has already had a very good rise. I don’t think it is the end of the world but corrections are perfectly natural, even in long bull markets, which is what I believe gold is in.

Energy section bounced which is good. As I mentioned yesterday, this section desperately needs to give me some bullish signals, for more than one day, to get it out of trouble.

As also mentioned yesterday , I keep a close watch on Brazil simply because it is our competitor in a number of areas. Their market had another big rise overnight so another good pointer for us.

Asian markets were also very interesting yesterday – particularly Shanghai, Hong Kong and India. So looks like happiness is breaking out all over!!!

Our market did precisely what I anticipated yesterday – buying switched back to the banks/leaders. I don’t think this will be a problem for the speculative end – perhaps spread the money wider while the emphasis on gold cools.