Well, the markets have opened up again, and it’s a doozy. The moment they opened, the ES was down over 40, the NQ was down over 130, and gold was absolutely ripping. My “bearish equities, bullish bonds, bullish gold” gospel is a huge three-for-three as I’m typing this. Let’s take a quick look.
The NASDAQ is getting hit very hard.
Gold is jaw-droppingly amazing right now. This has been simply spectacular. I’ve been annoyingly bullish on gold and miners since just before the year began, and it’s worked out great.
I’m especially excited about the ES since a fairly important support level has been breached.
I’m taking this one day at a time, and one stop-loss update at a time. Indeed, I’m actually hoping the Fed will act. Because that sets up the greatest possibility of them all: that it won’t work.