A Resilient Bubble
This staging period may take some time. We have seen the initial downturn, the quick 21 day averages basically turned down and are now in kind of a mini bounce as we await the more important 50 day averages to turn. The interest rate effect of embedded inflation is building, it takes time. The dollar continues to be suppressed by market players but the bottom that started last December is building.
Patience will be rewarded. Remember, everyone is on the same side of the boat awaiting the signal from Jerome.