We might as well wait until every morning before posting here as so many things change overnight.
Hong Kong airport closed down. This affected our open. Why? Beats the heck out of us.
Markets here are simple…becoming messy. Fewer and fewer names working. More and more names rolling over. Foreign markets remain much weaker. Small and mid caps continue to lag the large caps badly. Transports still not happening. Many areas like oils, retail remain bearish.
Major indices have taken on water recently. Just a good time to take a step back. There are still a decent amount of leaders just less so.
Yields continue to come down, notwithstanding bounces. We continue to ask what is wrong when $13 trillion of debt is negative, many economies starting to contract even with those negative rates…so we pay attention.
Bigger indices will open below their 50 day average today. That must change before anyone can get excited.
GOLD/GOLD STOCKS/SILVER/SILVER STOCKS remain strongest but only on pullbacks or settling down.