A Zephyr from Oz: PeachyFeverr!

Trump has made a deranged mess of crude’s chart, although I have displayed only a small, simple piece of it to illustrate this week’s tout. It implies that Sep Crude should be shorted if it hits the green line (x=87.81), and that a 93.51 stop-loss just above the pattern’s ‘c’ high be used to manage entry risk. (I have obscured the pattern’s origins for proprietary reasons.) I am recommending the trade only to subscribers who know how to craft a ‘camo’ trigger to enter. It is predicated on a fall to 70.72, the ‘d’ target. ‘Camouflage’ entries are discussed in the Hidden Pivot Course I’ve made available free to all legacy subscribers and new ones who sign up for a full year.  The course once sold for as much as $2500 and was conducted “live” around the world.

We may soon know whether gold is back on the recovery path or even the warpath. It all depends on how bulls handle the 4530.10 midpoint resistance shown. Last week’s timid rally was a step in the right direction.  Now, if they impale the Hidden Pivot, and especially if they close this erstwhile brick above it for two consecutive bars, that would be strong evidence of a resurgence capable of powering the futures not only to 5000 but also to a test of January’s record 5781.

One might think manipulating yields on the Ten-Year Note would be beyond the reach, even, of Donald Trump and those who serve him in the shadowy corridors of financial power. And yet, each time the interest rate moves in earnest toward the psychologically hazardous 5% level, it swiftly retreats as though blocked by some unseen force. With the national debt creeping up on $40 trillion and the financialized, high-leverage economy going gangbusters, there is no logical reason why long-term rates should not continue to waft higher instead of stumbling and tumbling as they continue to do. A crucial test is not far off in any case, since a breach of the 4.58% ‘p’ support shown in the chart that was narrowly avoided last week is still an imminent possibility. If it happens, that would signal downforce capable of pushing rates to the 4.42% target shown. It would provide a breather for a badly overheated economy in which borrowers are in desperate need of respite. _______ UPDATE (Aug 15): Rates on the Ten Year Note ended the week marginally higher after aborting a downtrend that might have offered borrowers, including the U.S. Government, a hint of relief. They were ascending toward the 47.13 Hidden Pivot resistance shown here, but it will take an energetic push past it to suggest there’s power enough to get to 5%.