1. I think it's good to take time off from whatever discipline we may practice, be it an instrument, exercise, or obsessive chart watching. Then we return with renewed vigor when the time is right.
2. Almost nothing interesting is happening...we're just bouncing in a choppy fashion. It's been the same story for roughly a month in view of the stuff I watch: We're bouncing into 50 day moving averages (in some case have gone a bit above them, which is encouraging from a bullish standpoint)
Here's a weekly view of the same chart:
I call this the "reflation trade". Governments around the world are doing there damnedest to re-inflate assets through turning on the printing presses.
Yet gold, which I consider to be the true measure of inflation expectations seems curiously contained, and the Christmas rally appears to be running out of steam:
So my attitude for now is simply watch and wait.
If the trend starts to change, I will get active again.
Toodles!
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