Weekend Dec 31 2016 End of Year
After a 2,000 pint run since the election we are due for a pullback, but the main trend remains up.
DOG and DXD are both having a first bounce. But again this is hardly a major turn.
Bonds to Stocks, If that is the Case Shouldn't Bonds Now Outperform Stocks?
The PAR SAR has generated a buy signal here as well.We would need to see a lot more positive action this week to take a long position in bonds.
Granted the major trend in stocks is still up!
Gold Versus the Dollar
This is hardly a major signal but it is a signal. But Central Fund CEF is back to a 10% discount to Net Asset Value in USD terms.
The US Dollar remains strong and the Euro weak. Inrterestingly on the WSJ Editorial Report today Mary Kissel predicted Marie Penn would win the French Presidency. Hollande is so out of favor he is not running. This would continue the world trend of Brexit, Trump, South Korea, throw the bums out. And that would be a big right turn for socialist France.
The light volume of the two week holiday does not tell us a lot. No doubt stocks are over bought and bonds over sold but the trends have not really reversed.
Same for gold and silver and the XAU.
Energy remains strong especially heating oil.
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