10/24 Trading Futures Update - PMs-Flat, S&P500-Flat, Crypto-Down Biggly
As we open trading in the far east we see a flat market. Crypto is getting hit yesterday afternoon and showing no sign of recovery from China. Snow is widespread, a White-Halloween is possible in many parts of the world, let alone a white-Christmas.......How 'bout some more global warming goodness. Food price inflation is coming to a grocery store near YOU, including shrink-flation in your boxed products.
Precious metals were up yesterday then hit after the Europe close, market is flat this morning. USD found some support at 97, but the Brit pound is headed to 1.33, and the Euro up to 1.14, we look for the USD dropping past 95, a boost coming the the metals.
Stawks are digesting earning, mixed reviews from Boeing & Cat, MSFT was flat, Amazon reporting today........technicals point to a downward spike in the markets. Algos holding the S&P near 3000 or above, false hope. Fair value is at -1.98, a boost to the futures at the open.
Crypto s**t the bed during the afternoon trading, we continue to see a stairstep down, consolidate then lower. BTC dominance at 66%, total marketcap near 200 billion. Steem at #83, smashing through 13 cents, now at $0.1252.
Keep stacking. Go get you some.
Thanks for following @RollingThunder
USA has more then 2 trillion. I don’t think only counting physical makes sense when the paper is just as worthless as the 1,s & 0s on a screen.
The situation is going to the extreme as the Repo daily funding, a crisis is looming. Seems like there would be excess dollars in circulation as countries move away from the petro-dollar, but maybe many are hoarding cash under the mattress expecting a Bank Holiday
RePo madness continues