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The short end of the curve is seeing more buying @ these rates.
US02Y_2023-09-02_08-14-03.pngUS30Y_2023-09-02_08-13-54.png

Looks like long term rates might be on the up again.
 
Zed said:
Silver Weekly - Further along than gold in pushing the line. Sold back, which probably indicates the breakout isn't next week. My guess is that we pull back to the 23's then come back shortly after.

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That was my view as well so took a position in zsl to protect against a downturn in Silver shares.
 
I'd say this is where next week's PM nerves are going to come from, the DXY is looking like it really wants higher. That isn't a candle you typically see in a top. Sideways is possible, but up is lightly. Looking a little divergent on ROC, RSI and momentum etc but still quite capable of a squeeze off high if the shorts take it in the neck here.

DXY_2023-09-02_08-11-46.png
 
Oil just looks like it has Cummins level torque going on here, might not rip ya tit's off, but it's most likely not stopping for anyone soon.

CL1!_2023-09-02_08-15-09.png
 

UPDATE: BIGGEST CREDIT BUBBLE IN HISTORY IS POPPING!!​

 
Yeah ok, move along people nothing to see here.

I mean seriously when does the situation explode?
 
Kirby says Ukraine has reached the second line of Russian defense. :D Now I don't know the deal with Lira at this point but I found this ironic. These guys have no self awareness.


 
Really can't stand the pain anymore. Waiting patiently for North Carolina to legalize marijuana and the like.


87440196.jpg
 
So this guy from the Deep South in the US popped up on my YouTube algo a few days back. Pretty well sums things up.


 

Rising GDP + Rising Yields = A MAJOR Sign of “Uh-Oh”​

Matthew Piepenburg

By Matthew Piepenburg
September 3, 2023

Have you heard the good news?

The Atlanta Fed GDPNow estimates a 5.9% growth in real GDP for Q3 2023. In nominal terms, we can even boast of an 8.9% surge.
What fantastic news! Growth! Productivity!

Rising GDP + Rising Yields = A MAJOR Sign of “Uh-Oh”

Have you heard the good news? The Atlanta Fed GDPNow estimates a 5.9% growth in real GDP for Q3 2023. In nominal terms, we can even boast of an 8.9% surge. What fantastic news! Growth! Productivity!
goldswitzerland.com goldswitzerland.com
 
Lancers32 said:
Kirby says Ukraine has reached the second line of Russian defense. :D Now I don't know the deal with Lira at this point but I found this ironic. These guys have no self awareness.
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There has long been the idea that a tactical nuclear war can be "won". Are they brave/stupid enough to test the theory? Glad that I live down south!
 
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Gonna stick my neck out and say this week will mark at least a short term top in the Uranium equities. Rampant bullishness with news like this you never want to chase this kind of thing.


 
Will the market let these, now very common, crash calls be right?



I can't recall widespread warnings ever coming to fruition.

Regardless, it is making me nervous.
 
December Silver & SLV Daily - Looking like support is ~24 and ~22 respectively. Spot is going to work out @ ~23.xx, currently sitting -30c/-40c under December Silver.

SI1!_2023-09-05_08-28-54.png

SLV_2023-09-05_08-28-06.png
 
GDX Daily - Taking a pause, looking for a higher low. To be clear, this is a downtrend, and we are looking for bottoming signs. A higher low then a higher high with a shot through the 200DMA are needed. The gap around 28.39 is about where I'd expect buying to come back in if the support is real. We could easily end up bouncing off that 26.80 line, if this is a part of the bottoming process. Below that, we have to back off and wait.

GDX_2023-09-05_08-43-48.png
 
Looking at weekly charts of NVDA, msft, meta, tala, and appl, it looks like a pattern I would use to get short. Good, AMZN and IBM all look fine though. Indexes look like they can go either way. Either setting up for a downturn or the next leg up. As we mentioned before, it doesn't look like the recession has been priced in yet but does the fed crush everything in an election year?
I wouldn't mind seeing a 20% pullback to reflect the weaker economy going forward. With so many calligraphies for a recession I don't know why the markets haven't reflected that yet.
One final thought is how low can anything go with Vanguard and blackrock owning so much of everything?
 
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