In light of last night’s terrorist attacks in Iran, European stocks are very strong. After all, war is good business. I can’t recall a more docile market, ever. We just seem to be in stuck in the haze of low volatility and nothing can wake us up.
In the meantime, the mean reversion intelligence in Exodus flagged an oversold signal for JJC (copper) yesterday. This is a rare event. The last time it was flagged oversold was on 2/11/16, a bottom for the ETF.
The only gentlemanly way to play it is to buy FCX, which is technically strong now. That’s an odd juxtaposition.
Over in the currency world, the dollar is raging higher v the euro, higher by 0.51%. This has produced a headwind for commodities, but it might be short lived.
NASDAQ futures are +11. Expect a little more of the same — low beta market, high beta world.
If you enjoy the content at iBankCoin, please follow us on Twitter
low volatility is just a condition pre-baked /imposed , via manipulation , for stability , it will not change anytime soon
I guess oil can reverse a way or another around this prices though
That’s bad for gold no?
definitely ; but gold reversed the downfall and a spriting dollar for now is just an short momentum trade
Terror is good for markets – it means world events are progressing as planned. The new normal.