Tuesday July 26 2022
Stock markets progressively lost ground today.
Industrials One Hour Chart thru Monday a week ago July 12
The message here is that markets are awaiting the news of the next two days and yes news does sometimes at least stall markets.
TLT Bonds Either a double top or just filling gaps
Lots of chatter about a recession, re defining a recession, the US is supporting the Ukraine just enough to keep from losing but not enough to win, and that would be my view. Article today in WSJ that Estonia has sent far more weapons to Ukraine than Germany, Estonia realizes they might get invaded. I suppose Germany has forgotten Operation Barbarosa when Hitler invaded Russia with which he had a non agression pact. Ukraine notes that as soon as the Grain deal was signed, Russia bombed Odessa. So we have the 1941 situation in reverse, I wonder, does Putin think France and Italy would fight to save Germany given their odd man out situation from WW II? Well the next two days should clear the direction for the rest of the summer for stocks and bonds.
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