Weekend Jan 29, 2017
The Working Class Strikes Back Of Two Minds on the Collapse of the Left, world wide
David Cameron out in theUK, Hollande unable to run with low, a right wing politician is likely to win next, Itlaian PM out, Brazil President impeached, Nieto at low ratings,
Stock Market Indexes are overbought but still on a tear. Various markets are all within weeks of setting perfect 17 year cycle highs with Janary, 2000.
Russell 2000
RUT needs a close below 1344 to turn the short term trend down.
DJIA Versus Bonds
The ratio chart still favors stocks over bonds.
Ten Year Note Yield
DBC Commodity Fund
John Murphy reports lots of money going into commodities. We think commodity priced bottomed last February which is what this chart shows.
DBC Weekly
Breaking through resistance at 16 will remove all doubt! The daily chart is well along and perhaps over done already, This loks like a good spot to put in a ladder of orders at lower prices.
Gold versus the US Dollar
If the Dollar remains strong, gold could drop a good bit, note the MACD at bottom is rolling over.
UNG
UNG the Nat GAS ETF is stuck in mid trading range, but we still like it.
Bottom Line
Stocks remain in uptrends across the Board. But markets are overbought and celebrating important cycle highs.
We think the ten year rate will eventually rise to 3%
Gold and silver are not making much progress for the time being but overall commodity prices are.
We like Natural Gas.
Social Mood
La La Land loks like a winner, Robert Folsom explains why.
It is 1964-66 all over again when My Fair Lady and Sound of Music swept the Oscars.
Social mood precedes social action. The mood is positive so the mood towards musicals, now as in 1964-66 is favorable.
It works the other way as well. Five years after Sound of Music, Midnight Cowboy won the Oscar, as afar removed from the upbeat musical
as one could imagine.
And history repeats, check out what the public was watching pre -rash in 2008, The Dark Knight.
The tag line for that movie was The City Has no Hope. So the movie matched the growing negative mood.
How much match you ask? Oh about $500 M.j And note that was in a short seven months!
Box Office
Budget:
$185,000,000 (estimated)Opening Weekend:
$158,411,483 (USA) (18 July 2008)Gross:
$533,316,061 (USA) (27 February 2009)
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