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TME kicks us off with a market that just doesn’t care.
Momentum refuses to die
Memory remains squeezed, BTC has gone from below its 200-day to historically overbought in a matter of sessions, and gold is turning parabolic as flows chase the move higher. Meanwhile, fund managers are back overweight US equities with cash near record lows. The trends remain powerful, but the easy entries are disappearing fast.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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