Some indications of a possible change in Rotation momentum as gold and silver surged on sub-normal volume while the high flying yen pulled back on massive 240% volume. TLT, which we’ve been waiting to show a top, did an intraday flip flop and also ended up plunging on almost double normal volume.
The Euro and Canadian dollar maintain a negative MoneyStream status while TLT and the yen are still displaying positive Moneystream even in the face of today’s weakness. Today’s turnaround was long overdue, relieving uber oversold technicals but it’s not at all clear whether we’ll next see a continued push up or merely a pause until new support levels are tested.
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