The US Dollar has FINALLY broken below its previous daily cycle low to confirm the beginning of the long await “intermediate decline”.
A few days bounce may be in the cards, but what is most important to understand is that the cycle of higher highs and high lowers has finally come to an end – with a “lower low” now in place.
Larger implications?
I assume gold, silver and the related mining companies are about to see strong move upward, and it will be interesting to see if the price of oil related names move higher – in the face of a weaker U.S Dollar.
The ol adage to “sell in May and go away” looks to be taking hold this year, so I would caution you sleepy , passive , complacent traders and investors to consider “once again” to bank those profits here, as this extended topping process finally comes home to roost.
Short USD trades have performed wonderfully, and we’ve got the JPY related pairs on deck next.
CNBC has now moved to a shitty little office in San Francisco, because t’s all they can afford. Look for the network / channel to likely disappear from the airwaves late this year.
Yesterday’s “trade of the day” posted on Twitter was a smashing success, as will be today’s and the next days and the next….
The Fed has your back here this afternoon. U.S GDP craters lower “again” and the world is a happy shiny place “financially speaking”. Lol.
Keep drinkin the watered down, luke warm kool-aid here today. Ahh screw it….just go back to bed.
IBB_Forex_Kong
Hi Kong,
I’ve heard of that saying “sell in May and go away”. Could you explain why that is? I’m holding precious metals for the long term, but this “sell in May and go away” is making me worried… as in… it’s not a time when PM prices are known to crash or something, is it?
Also, what’s the possibility you see this time being different?
Thanks!
Hey John.
No I don’t see it as a time for PM’s to fall no.
If anything we could very well be on the cusp of a large US Dollar fall and a pretty decent move UP in metals.
I see the wind getting taken out of high flying stocks, with Metals moving higher.
You purchased ACB, What are you expecting price and time line.
I see ACB holding here – very solid at 2.78 region on a technical level.
Short term I’d like to see it push back up to the 3.25-3.50 area for a nice trade, but am not holding my breath. Markets hate uncertainty, and there’s no shortage of that these days.