As mentioned months earlier China bad + Europe bad + US consumers tapped out. Higher Oil price = higher gas price = higher prices for products.
The so called AI boom is a bust based on hopes, that mask the reality…
Market as oversold short term. I thought they would have corrected a bit deeper, but I guess the corporate buybacks are back! These controlled corrections are slow and boring these days. It gaps down one day and then it zig zag its way down slowly. Below 4000 for the SP500 would have been a safer entry point for a santa rally that could come earlier this year so investors miss it.
10Y Yield is overbought and about to reverse and LT Bond are deeply extreme oversold even on the monthly chart. We are due for a rally that could create a shorts squeeze. Last week CoTs small speculators positions jumped from 44k contracts to 60k. Mid term and Long term Bonds are a bad idea, but short term in a squeeze maybe.
Bitcoin has already dropped and has been pretty stable since. It could go back to 30k in a short swing and then some if greed santa is jolly.
Gold is not oversold, perhaps because of the central banks buying physical and now the average joe is rushing on gold bars at Costco.
A correction around $1800 would be best for an entry point, but 1850 could do depending on next move. Gold/Silver ratio says silver is due for a rebound.
What ever you do don’t bet the farm and remain cautious as there are too many risk and craziness happening around the globe.
https://silverseek.com/article/bonfire-silver-shorts
A glimmer of hope in China
So far in this Year