This Week....October 22 - 27, 2017
I am not looking for anything major yet in any commodities or currencies to say the least. So far my prediction has been relatively accurate with the Dollar continuing to rise. It will continue to rise likely through the new year with the Fed likely raising its key lending rate in December. Usually October is a good time to expect some sort of major correction on stocks but once again you know my opinion on that. It's a bull until it is not. So far there is no technical or radically changing fundamental that would tell me that stocks will crash.
Yes debt is ultra high. Higher than it has ever been in fact and this is not just a local problem but a global problem. By every indication people are struggling with debt as never before. I attribute this to stagnant wages, high tax rates and very little disposable income. This won't change until these change. Instead of giving every break in the world to ultra rich corporations and billionaires (although they are the ones that create jobs) something needs to be put back into the middle class. You might not think of this as deflationary but it is. While everyone is struggling to pay bills and keep solvent (most are failing) this is most certainly deflationary pressure. Living to pay your debtors is no way to live. You just borrow more to keep afloat until you can't stay afloat any more.
Little wonder that Bitcoin is doing so well as people are getting very tired of being debt slaves to a system that has done nothing but fail them while rewarding the politicians and the wealthy.
Natural Gas has been mentioned that it might be a buy in this area. I doubt it. The look of the chart does not tell me that there is any buying pressure at all and it is staying in the major volume area. So you could consider the commodity but I at the moment I am not. The time to buy was when it was at 1.67 when I told you to buy. You can see the posts and by the arrow on the chart where I told you to get in.
Oil is moving sideways as I told you it would at the 51.20 volume area. I do not expect this to change this week. The time to buy and hold was where I told you to do so. Not here.
You can see the chart of the Dollar below. I told you it was a buy where the arrow is and it has been. It will continue to be for a while yet. It may correct lower but not much. I expect a move to at least the 96.00 area before a correction occurs.
All it really is at the moment is sideways markets and market noise. You can make money but there is not much in the way of swings at the moment. Stay tuned and I will help you concentrate on oil and some other key markets to stay in the right directions. Cheers
Yes debt is ultra high. Higher than it has ever been in fact and this is not just a local problem but a global problem. By every indication people are struggling with debt as never before. I attribute this to stagnant wages, high tax rates and very little disposable income. This won't change until these change. Instead of giving every break in the world to ultra rich corporations and billionaires (although they are the ones that create jobs) something needs to be put back into the middle class. You might not think of this as deflationary but it is. While everyone is struggling to pay bills and keep solvent (most are failing) this is most certainly deflationary pressure. Living to pay your debtors is no way to live. You just borrow more to keep afloat until you can't stay afloat any more.
Little wonder that Bitcoin is doing so well as people are getting very tired of being debt slaves to a system that has done nothing but fail them while rewarding the politicians and the wealthy.
Natural Gas has been mentioned that it might be a buy in this area. I doubt it. The look of the chart does not tell me that there is any buying pressure at all and it is staying in the major volume area. So you could consider the commodity but I at the moment I am not. The time to buy was when it was at 1.67 when I told you to buy. You can see the posts and by the arrow on the chart where I told you to get in.
Oil is moving sideways as I told you it would at the 51.20 volume area. I do not expect this to change this week. The time to buy and hold was where I told you to do so. Not here.
You can see the chart of the Dollar below. I told you it was a buy where the arrow is and it has been. It will continue to be for a while yet. It may correct lower but not much. I expect a move to at least the 96.00 area before a correction occurs.
All it really is at the moment is sideways markets and market noise. You can make money but there is not much in the way of swings at the moment. Stay tuned and I will help you concentrate on oil and some other key markets to stay in the right directions. Cheers
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