Mkt Fag: After the Close-Quite the show
Couldn't get any of it green for the day and still MUCH tech. damage evident. Made worse by the gyrations of today-it was nothing moar than a prop for big bois to exit. Looks like a head and shoulders topping pattern on the all three majors (DJI,NAS, SP500) charts.''' Ending on the LOD is not good for anyone who still thinks they are faster than the system.
NAS is till in Bear mkt territory and if Janet had not pulled the PPT out last week it would be much lower at this point-but go ahead raise rates....
Tons of late-day selling too-black line.
We'll see later what it "cost" the system to pull the hit job on the metals when the COMEX publishes the daily #'s-if/when they do..way late yesterday-kek. Metals (Au/Ag) managed to claw back about half of that earlier drop
Au ended +52.50 +2.63% Ag +0.67 +2.63% and were both quite a bit higher before the hit job.
The money went to metals and not Treasurys today----We habs a prolem Janet.....kek!
https://www.kitco.com/charts/livegold.html
https://www.kitco.com/charts/livesilver.html
They have not even raised rates and already screwed themselves so there will be no rate hike next week "On-going geo-politcal blah,blah,blah" shit. They still trying to show it on the CME Fedwatch as though they will-cap#4 . They already habs a serious liquidity issue and raising rates-even though demanded by the bond market (and already done via the 10 year Note) will just make this all worse. They did not raise them last year so they could lower them because the same thing would have habbene..."war" or not. They are screwed. Not to mention the higher interest payments on the record-level of debt......totally impotent.
And let's not also forget that the US $ is at 2 year highs as well-cap#3.....and a deeping yield inversion
The ECB meets on thursday so look for the same "Not gonna raise rates..geo-political" garbage from them too. It i also the same day that out CPI data comes out. Oil continues the march towards $150...be at that soon-up 58% YTD so far
Some additional headlines
U.S. Shale Cannot Offset Loss Of Russian Crude In The Short Term
https://oilprice.com/Energy/Crude-Oil/US-Shale-Cannot-Offset-Loss-Of-Russian-Crude-In-The-Short-Term.html
LME Forced to Halt Nickel Trading, Cancel Deals, After Prices Top $100,000
https://money.usnews.com/investing/news/articles/2022-03-08/lme-suspends-nickel-trading-for-the-day-after-prices-see-record-run
Russia to Restrict Some Raw-Material Exports, But Omits Details
Russia issued a vague order saying it would restrict trade in some goods and raw materials in response to sanctions from the U.S. and other countries, but left out key details about which products might be affected. President Vladimir Putin signed the order to ban or restrict goods and said those items still need to be defined by the cabinet, according to the statement posted Tuesday. The Kremlin instructed the government to prepare a list of countries that the restrictions will apply to in two days.
https://www.bnnbloomberg.ca/russia-to-restrict-some-raw-material-exports-but-omits-details-1.1734505
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://finance.yahoo.com/quote/%5EDJI?p=%5EDJI
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html
https://www.marketwatch.com/investing/index/dxy