Three Fed Chiefs Walk Into a Bar…

…and, the market soars!  Just because. There’s another old economics joke: Q: How many central bankers does it take to change a light bulb? A: None.  It’s getting brighter, see?  It’s definitely getting brighter! The brain trust which has overseen the Fed since 2006 assembles today at the American Economic Association’s annual meeting. We’ve all … continue reading →

Update on Currencies: Dec 31, 2018

USDJPY recently failed, again, to break out past overhead resistance, dropped to our 110.75 target [see: Unscripted] where it momentarily bounced for a couple of days before dropping through its SMA200.  Any time the USDJPY drops through its SMA200, it’s significant.  With EURUSD also threatening to break out, this is a good time to look … continue reading →

Update on Gold: Dec 26, 2018

Back on August 15, we noted that gold was nearing an important downside target.  From Charts I’m Watching: Aug 15, 2018: [Gold] has reached triple support –the .618, yellow TL off the 2011 highs, and the red TL from 2010.  We’ve targeted 1173.60 since the yellow TL broke down in May and gray channel broke … continue reading →

The True Price of Oil

As enjoyable as it is filling up the Family Truckster for only $2.36/gallon, what if it meant the the death of thousands of Kurds?  Here’s what we know. For months, OPEC ignored Trump’s demands to bring down the price of oil.  Trump was correctly concerned that spiking oil prices would push inflation to new highs … continue reading →