This week’s podcast starts at the top of my “pecking order” with the 30 year bond and 10 year note yields, the US Dollar, Gold and Silver and then the SPX and NDX. Reverse order so to speak. I discuss in some detail the direction for yields over the mid to long term and the inversion the direction for bond prices over the same period. I also update the US $ index which again continues to slip lower but the long term prognosis remains for another rally before all is said and done. The precious metals caught an updraft last week. It was more pronounced in gold than silver but both gained ground. I discuss the EW counts in both.
Lastly I update the SPX and NDX – where after Friday’s strong rallies most are wondering what’s next. After all the excitement it likely will result in a strong and steep decline to kick off Minor 3rd waves down. I discuss the immediate near term with the long term in mind.