Tuesday, July 5, 2016

Tuesday, 7/5/2016

This was a telling day in the financial markets as Gold, US Treasuries and the US Dollar soared while stocks still came back from their intra-day lows. The message: Gold, US Dollar and Treasuries are SCREAMING deflation while all that central bank liquidity sloshing around the globe continue to buoy US equities. But as I've said before, we're in the late innings of this ballgame and the volatility we have been experiencing is emblematic of that. I still think we break out to new all time highs but the party cannot continue for too much longer.