For a little while, markets looked like they were about to embark on a full-on crash. And that could still happen, says Dominic Frisby. Today, he looks back at previous crashes to see what they can teach us about where things might go next.
Timing, timing, timing. Sp500 Friday close looks to be a bear flag in a steep bear channel to me and projected future earnings look weak. Ftse100 technicals less clear - enormous gap (higher) to fill?
In addition liquidity is drying-up (M2 shrinking) and EU banks are very stressed.
Oil has a supply issue so $140 looks on the cards despite the recent pullback.
Gold holding up, silver got slammed again this week. Big Money paper shorts have all but dissapeared.
Long oilers, Gold and Silver plus a few miners. - sell the rest despite the pundits' consensus that the Fed will pivot? Très difficile!