Global Macro Charts – Sunday 15 Dec 2013 (18:02)
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Reviewed the Forex charts on Monday. So time to review the rest of the global macro charts (equities, bonds, crude, gold, etc.) in this video.
I think we’ll have an Xmas rally in Equities – but first we’ve got to lurch down to find another Support level. We’ve not seen Exhaustion selling on the 45 minute or 13,500 tick charts. But once those are in – with the necessary Pull Back to End of Trend sequences – we can look to bounce and test the recent highs.
This week’s Commitment of Traders data for Bonds was interesting. It doesn’t show Professional support for a sustained rally in Bonds. And until we see money flowing back into Bonds the Equities rally should continue. (a difficult thing for a diehard bear to say)
Leaving France …
And it’s time for us to move on and leave France for another year. We’ll miss the French pop, people for care about their appearances and have pride in their professions. But France is in a mess. It’s taken 3 or 4 years but the gravity of the situation has finally hit the French populace.
When we first started travelling – 5 years ago, just after the GFC hit – everybody told us the slump was just temporary and France would bounce back. Every year we came back it got a little worse. This year everybody has lost hope.
And who wouldn’t, after 84 new taxes being introduced, rising crime and watching Francois Hollande, a bafoon of a Socialist bureaucrat, bumble around. And Hollande is in until at least 2017. What will France be like when we come back next year?
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