As much as it pains me to admit it, markets are breaking out again. Barring this post timing an exact top in markets, it appears to me, an expert eye, markets are readying to bust loose to the upside again.
Many of you zealots are already in and might be taking profits here and that’s fine. But I was waiting for an 80% up day with breakouts across multiple sectors and here we are. I’m 80% deployed with 20% reserved for an afternoon dip.
God willing tricks are not played on me and my visions are accurate. If not, I’ll figure it out one way or another.
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While today’s action is bullish, be aware that many stocks are now bumping up on a declining 20 day moving average on the daily timeframe. This is a very common failure point in downtrends. Watch that price action!
The risk to be hedged is inflation and not deflation. All the risk factors facing us are inflationary; protectionism, non-dollar trade, energy shock, war, election year etc. The Fed and US government are in the velvet vice they made for themselves. Bonds won’t do well so stocks it is.