kaltbaum premarket

Some not so normal stuff occurring right now. This morning…euro is soaring…but futures are down a little and gold is being smoked. Normally, gold goes up when the dollar is weak. Also, oil prices getting hit…so a change in what we are seeing with the currency/market dynamic.

 

Without a doubt, markets hit a wall at logical resistance yesterday as the 50 day containing things. That doesn’t mean the market doesn’t just go through it to the upside today…just that odds dont favor that. If we are in a topping out process for the market, so far, this is how it is supposed to play out. You first get a topping phase…then a couple of drops…selling then picks up. All of a sudden, market hits a low and has a sharp rally into resistance areas…and then fails at those resistance areas. I am willing to say…SO FAR market has failed into resistance but quite aware between operation twist and qe infinity, the fed is printing $125 billion/month…so we stay judicious.

 

Adding nothing but if nothing changes, will provide a list of uglies tonight.