OIL PRODUCING NATIONS DRUB THE US $ LINK HERE could be reason gold scooted and US $ flagged. As usually the case when the US $ falls anything denominated in it rises.
The unemployment situation is being undereported, and now we will ignore one report that shows the economy is going into contraction for one that says we aren't. But at the end of the day, as goes the US $ goes the opposite for other things, like gold and paper assets.
Are you a saver? Then you already know how HARD it is to get yield, a return ON your money. SO with little left as choice, the stock market game is calling. Remember 2000 and 2007....there MUST be substance behind the new miracle claims....I don't think there is.
States are UNDER THE GUN, going into the RED, unlike our FED GOV, most states are mandated to balance their budgets, to snip snip they go and raise taxes they do, some raising unemployment taxes to SURVIVING businesses by 3X.
STructurally the banking system is bankrupt, only slight of hand keeping bad assets in the dark and lending is constricted. IF CREDIT IS CONTRACTING, HOW DO WE GET TO A SUSTAINABLE RECOVERY?
DO stock prices have to reveal the economies true nature? NO....not right away. When even a patient on life support can see the truth.....the REACTION WILL COME.
For the AM, with little economic news due rest of week, it's buy the SPX futures game, it's here, and the RECOVERY IS ON TRACK BS and BS UPGRADES FROM THE BS analysts are center court.
Playing the BOUNCE off 1021 support was the play, I am in process of trying to determine how far we can go.
D
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