Rollback Thursday

The more things change, the more they stay the same.

35
Thu, Mar 21, 2019 - 10:24am

Following CGP's capitulation yesterday, the price of gold exposure hit $1320 overnight. But then the POSX began to rally and The Banks took over. And now we're back to $1314. This is still positive, however, and certainly preferable to the alternative.

Here's your main culprit and we discussed this possibility in yesterday's podcast. For whatever reason, the POSX is recovering and is now down only slightly from 2:00 pm yesterday. It's interesting to note that the breakdown out of this pennant is nearly identical to the break up from the pennant that followed Count Draghi's...

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Key Economic Events Week of 4/15

4/16 9:15 ET Cap Util and Ind Prod
4/17 8:30 ET Trade Deficit (Feb)
4/17 10:00 ET Wholesale Inventories
4/18 8:30 ET Retail Sales (March)
4/18 8:30 ET Philly Fed
4/18 10:00 ET Business Inventories (Feb)
4/19 8:30 ET Housing Starts and Building Permits

Key Economic Events Week of 4/1

4/1 8:30 ET Retail Sales (Feb)
4/1 9:45 ET Markit & ISM Manu PMIs
4/1 10:00 ET Construction Spending (Feb)
4/1 10:00 ET Business Inventories (Jan)
4/2 8:30 ET Durable Goods (Feb)
4/3 9:45 ET Markit & ISM Services PMIs
4/5 8:30 ET BLSBS

Key Economic Events Week of 3/25

3/26 8:30 ET Housing Starts (Feb)
3/27 8:30 ET Trade Deficit (Jan)
3/28 8:30 ET Q4 GDP final guess
3/28 10:00 ET Pending Home Sales (Feb)
3/29 8:30 ET Personal Income (Feb)
3/29 8:30 ET Consumer Spending and Core Infl. (Jan)
3/29 9:45 ET Chicago PMI
3/29 10:00 ET New Home Sales (Feb)

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