who ate all our pies... - thursday, page-2

That was a bit interesting in gold – or to be more precise – the precious metals group. Palladium now up to the highest level since early 2012 – platinum had a sharp rise and silver – drum roll – actually almost confirmed a turn in the short term indicators it has been playing with for weeks. As well the ratio of the SPX to silver looks to be breaking down. A lot of action in commodities – oil moved higher but looked a bit toppy and sugar had another sharp advance. Rates over there were lower again as the talk of negative rates in Europe took hold. Our bond yields must be looking increasingly attractive to overseas investors.

At this stage the SPX has turned on the full moon – the last low was on the previous full moon.

Our market shook off a major part of the divvy adjustment yesterday in three banks to finish little changed. The XJO is basically sitting where it started the year so we have achieved very little in five months. The plus of this is that we have built up good support below current levels during this period.

Out of my office all day again. Makes it hard to trade.