What Season Is It?

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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.

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Eclipse!

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

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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.

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