I am restraining an impulse to create some new intermediate long positions out of trading discipline. There has been no buy signal yet.
I also wish to see how we fare through the Non-Farm Payrolls Report on Friday.
This smackdown in the metals is starting to look very over-extended.
I don’t like to traffic in ‘feelings’ and ‘intuitions’ but I must say this is starting to look like something important is developing within the long macro trend that has been in place since 1999.
Have a pleasant evening.
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