Greetings again, Everyone, and nice to be back with you!
We have seen plenty of our “Rotational Bias” of Risk Aversion to Risk Appetite as we move through September… the difference being our “Push and Pull” between the two has surely picked up the pace.
The Summer weeks of several days of Aversion to several days of Appetite have dwindled with the return of Institutional Volume and Macro-Rhetoric.
Gold and Crude are making solid gains out on the Daily Views as The Dollar hits a Risk Averse “Speed Bump” concerning any real continuing strength the last several days.
Well…in my personal view… despite the latest round of “The Recession is Over” and all the Rhetoric that comes with it… The Dollar and The Yen may not be ready to “Abandon Ship” just yet as we continue to move through the Quarter.
If we observe out on the Weekly of the Dow, and use this as our “Bellwether” of Risk “Degree”… our Fib Variant Projections certainly look valid for a touch of the 10000/10300 Levels if we use the “Classic” 38.2 Variant completing at the 138.2 Extension as we usually see.
This surely will keep Gold well-bid moving forward… although Pullbacks here and the Bullish Views of “Buying on Dips” may surely come into play for Inflation-Adjusted concerns on the Longer-Term.
