gold's blue period
market vibes
October 8…)
“… when the evening is spread out against the sky like a patient etherized upon a table“…Thomas Stearns Eliot , the love song…
In the news
Lots of charts and commentary calling BS on the BLS NFP report. Goldman revised its estimate for the probability of a US recession over the next 12 months back to 15% (via The Daily Shot).
In the markets
Hang Seng down 10% foreshadowing a pause and horizontal activity in Asia.
In America, the stock market is easily regulated by managing the daily auction in the mags and big caps. Just one of them can adjust the entire index with a tweak because the weights are so absurd.
The VIX is mysteriously divergent with its hand in the air at 22 in a declarative statement of angst which is weird considering the docile behavior of Eminis. The VIX should be 15 or Spoos 300 handles lower… just sayin’…
I have no clue why, but WTI seems to be correlated with equities in Asia? I suppose if China really does kick off a growth cycle, demand for crude goes up. Nothing new in the press from the middle east; more skirmishing. Nuclear war has been postponed until mid-November or if oil trades $70.
October 7 came and went with barely a ripple of global recognition.
In other markets
