Dalian is putting on a brave face today despite the weakening omen of Chinese house prices:
Big Iron is mixed but looks toppy:
All three majors have room to fall before their up trends are disrupted, here’s RIO:
I expect a move back into the $50s for iron ore before year end so those trends will be tested. They may well hold given the new year should bring higher prices on seasonal restocking. Then I expect the big break lower through next year as China keeps slowing.
Big Gas keeps rising on the blood of dead pensioners:
Nice work if you can get it.
Big Gold is still a trading “sell” in my book. The market agrees today:
The Big Sleazy is up again with the wider sector. Not sure why. I don’t see yield curves steepening. The opposite with taper:
Big Liar still hasn’t realised it is the walking dead:
Aussie dollar at 80.03 and two year bond pricing two rate hikes. Ominous signs in China not yet priced…
