More Reason For Caution

The Banks are stretched to uncomfortable levels.

24
Tue, Jul 9, 2019 - 9:56am

While nearly every "analyst" watches the CoT reports, very few pay attention to the monthly Bank Participation Reports. However, we do. And this month's report is at a record extreme.

In yesterday's podcast, we took a whole bunch of time explaining the current CoT structure, how it is the second "worst" of all time and what this likely means for price in the near term. If you haven't listened yet, you probably should.

All of this does NOT mean that a full washout and pullback is coming. During the run-up from 2009-2011, the CoT was never fully "washed...

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Key Economic Events Week of 6/27

6/27 8:30 ET Durable Goods
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6/28 12:30 ET Goon Daly
6/29 8:30 ET Q1 GDP final guess
6/29 9:00 ET Chief Goon Powell
6/29 11:30 ET Goon Mester
6/29 1:00 ET Goon Bullard
6/29 1:25 ET Jul22 Silver off board
6/30 8:30 ET PCE and Core PCE
6/30 8:30 ET Pers Inc and Cons Spend
6/30 9:45 ET Chicago PMI
7/1 9:45 ET S&P Manu PMI
7/1 10:00 ET ISM Manu PMI

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