Looking at the ES and $TICK Pivots on the 30 Minute Chart above, we can see that the market is stubbornly staying above the 1405 level despite some selling pressure.
The new highs in light crude is not helping the inflation issue.
However, at least the CRB has not made a higher high yet.
And the Dollar is still showing some relative strength.
Interesting dichotomy. Lower rates should be good for the equity market, but the lower rates are having an effect of raising inflation of basic goods, which is putting a strain on consumers. It may be one of those strange occurrences where higher rates maybe good for the equity markets in the long run.
Charles
No comments:
Post a Comment