What Season Is It?

click chart to enlarge

An unanswered question in the era of the QE is, What is the effect on the long-waves cycle?   Does this money printing simply postpone a deflationary "winter" reckoning for another day?  Or is the effect to skip a healthy "spring" growth period and therefore move directly into a hot "summer" of out-of-control inflation.

The more powerful the metals rally becomes, the more likely the latter answer above is the correct one.

click chart to enlarge

Subscribe to see the rest of this post.

Eclipse!

The crypto markets exhibited some frenzy today.  But I'm not seeing eclipse related activity elsewhere.

click chart to enlarge

The S&P breadth gave a divergence signal today. These have been plentiful in 2019, but the full moon eclipse may give this one more a better chance.

Subscribe to see the rest of this post.