Hi guys, a good week has passed with what looks and feels like the usual Santa rally in motion. US equities have set more record highs and although the 52 week highs are divergent from the prior wave they still have achieved near +2 STD from the mean levels of 52 wk highs which is hardly, from a longer term perspective divergence. World equities bounce but as the US$ weakens a little the US$ adjusted levels are pegged again. Precious metals and their miners in particular are getting some movement again. As one of the few unloved asset classes and given its inverse to risk plus inflation correlated properties its an add although I’d like to see some serious volatility and momentum come back to the asset class.
Here the Swiss team’s latest report guys:
And here the GS charts that matter team’s 2018 Outlook report:
And here a 2017 review of the major economic themes from Wells Fargo:
favorite-charts-20171220-final
Count down to the end of the year is on. I hope Santa brings you, if not what you wished for, what you needed!
All the best
Rich