16 February 2017

Stocks and Precious Metals Charts - Get Three Coffins Ready

The dollar took a dive today, and the metals priced in dollars managed a bounce off of that.

Stocks bobbled a bit, but managed to hold on to their recent nearly vertical rally gains.  The three major indices, the Dow, the SP 500 and the Nasdaq 100 are all at new highs.  Oh my mistake.  The Russell 2000 makes it four.

I doubt the market will sell off, unless there is an 'event' to drive real selling, until the SNAP IPO gets squeezed out. The valuation has been reduced somewhat, from the outrageous to the merely absurd.

Once the selloff starts, it could be impressive.

Have a pleasant evening.