Via NorthmanTrader.com,
We have arrived. The moment of truth. If you have followed my writings you know I’ve been talking about the January gap fill and major MA reconnects to come for quite some time. No matter whether you believe this to be a bull market ready to re-assert itself or you view the recent rally in the context of a bear market about to unfold you must acknowledge the pivotal nature of where the market now finds itself in the days ahead.
Submitted by Alasdair Macleod via GoldMoney.com,
This article notes that the technical situation for the gold price has sharply improved, to the evident surprise of many mainstream analysts. It discusses possible reasons behind the turnaround, and implications for the future.
Technicals
The technical situation is shown in the chart below.
Executives from pharmaceutical companies in Belgium are to be charged with knowingly supplying drug cartels with prescription drugs that were used to manufacture methamphetamine, prosecutors have announced. Seven top executives at three Belgian pharmaceutical giants are accused of providing several tons of ephedrine to the Mexican drug kingpin Ezio Figueroa Vazquez knowing it was going to be used in the production of crystal meth.
On Thursday, after the ECB's stunning announcement that it would for the first time start monetizing corporate debt, we joked - or so we thought - that "within 6-9 months we expect to add a chart showing Europe's junk bond market which will be next on the monetization menu, followed shortly after by equities and kitchen sinks."
As it turns out, this wasn't a joke, and overnight JPM's Nikolaos Panigirtzoglou explained what to "expect" next from the ECB:
Submitted by Alexander Grover
Current Situation