So far so good on the ABC rally. A is extending and B is delayed, for now. Breadth is weakening so its a matter of time before we take a breather here. Comments on micro managing this rally from last week sustain. Gold has not shown much of retrace in spite of the US dollar strength and risk on assets climbing. Commodities (inc commodity fx) continue to improve and oil shows an excellent price pattern for more strength as are her equity related issues.
All good stuff so far. I hope all your accounts are doing nicely!
Without delay here the Swiss team:
And here GS
GS turning bullish gold!
Much more to come tomorrow..
All the best
Rich
Here the excellent weekly MS fx report:
And given the moves in the commodities and particularly gold its right that we start to focus on the group of assets again.
Here Commerz “Gold is Back”..
And here a timely quote from Greenspan. Whether you love or hate the man for his actions whilst in office there is much evidence that prior and post his time at the Fed he does understand the inner workings of the global economy.
Greenspan 2nd March16
“No. I haven’t been (optimistic) for quite a while. And I won’t be until we can resolve the entitlement programs. Nobody wants to touch it. And that is gradually crowding out capital investment, and that’s crowding out productivity, and it’s crowding out the standards of living where do you want me to go from there.”
Here Citi
All the best
Rich