The relentless, steady, monotonous levitation to all time highs keeps chugging along: while last week saw the S&P experience its first 1% intraday move in nearly two months, there has yet to be a comparable move on the downside. As Deutsche Bank notes, pull backs of 3-5% in the S&P 500 are typical every 2 to 3 months historically. The last such pull back occurred just prior to the US presidential election.
While the media continues to blast the occasional OPEC production-related headline, the reality is that crude supply is increasingly becoming a shale story, as the US, now tens of billions in debt lighter - has rapidly emerged as the low-cost, marginal oil producer.
Long before Kim Jong-Un launched his latest ballistic missile test in February, prompting an angry response from not only the US, Japan and various other countries, most notably China, which banned North Korean coal imports in retaliation and unleashed what may be a political crisis in Pyongyang, former president Barack Obama was already engaged in a cyberwar with North Korea.
By the SRSrocco Report,
According to newly uncovered information in the gold market, it provides additional evidence of why the Fed, Central Banks and the IMF were forced to RIG the gold market. Not only was the dropping of the Gold-Dollar peg going to release a great deal of pressure on the manipulated gold price, but forecasts of a massive increase in gold demand was going to totally overwhelm supply.
The U.S. military has been placed on “red alert” following an attack on a US destroyer by a Russian fighter jet in the Black Sea in February. Newly released footage shows two Russian Su-24 jets shooting at the destroyer USS Porter on Feb. 10. The aircraft comes within 200 yards of the deck at an altitude of 300 feet as it shoots overhead. “Such incidents are concerning because they can result in accident or miscalculation,” Navy Capt. Danny Hernandez, a spokesman for U.S. European Command, said.