North America

Now that the massive USO-driven squeeze appears to be over (congratulations to whoever managed to sell equity and their secured lenders) the bad news can return. First, it was Goldman slamming the "unsustainable rally, and then just a few hours ago, the EIA released its latest monthly short-term outlook report in which it brought even more bad news for long-suffering bulls who thought the pain was finally over.

The U.S. Census Bureau recently released its data on U.S. trade in goods by selected countries and world region for 2015. HowMuch.net built three maps to provide a proportional visualization of the trade that occurs between the U.S. and other countries.

Aside from the legitimate, but largely irrelevant for the sake of this post, reasons including this morning surprisingly weak service data, in which both the ISM and the Markit PMI reports confirmed that the "malaise in manufacturing has spread to services", JPM's recommendation to sell stocks and buy gold, and the fact that slowly but surely the world is being flooded by negative rates, here are the two most actionable reasons why gold just broke out and soared to $1,260, and is fast approaching levels not seek since January 2015.

Yesterday, there was some confusion as algos and humans tried to explain to themselves why they are buying at such a furious pace that yesterday's torrid surge resulted in the biggest March 1 S&P500 surge in history. The truth is that there should be no confusion: as we previews, and explained, first thing yesterday, "Gartman Is Again "Selling The Markets Short" Just Two Days After Turning Bullish."

Authored by Brett Redmayne-Titley via ActivistPost.com,

“Tolerance and apathy are the last virtues of a dying society.” – Aristotle