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Inflation, the reopening trade and consumer spending – Have we seen the peak in all of them already?

Cory
July 2, 2021
Comments (28)

Marc Chandler, Managing Partner at Bannockburn Global ForEx joins us for a broad discussion on the possibility that the peak in inflation, the reopening trade, consumer spending, and even fiscal spreading have all already peaked. We tie this concept into markets and currencies moving forward.

Click here to visit Marc’s free blog – Marc to Market.

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Economic Data Fed policy Inflation/Deflation US Equity Markets
Discussion
28 Comments
    Marty
    Jul 02, 2021 02:18 AM

    Looks like a solid metals market going into the 4th. Enjoy everyone, contemplate the little Freedom we have left.

    David
    Jul 02, 2021 02:10 PM

    Emerita … again

      David
      Jul 02, 2021 02:50 PM

      Best week ever…

        Excelsior
        Jul 02, 2021 02:36 PM

        Congrats on the Emerita gains David. You’re slaying it.

    RICHARD/DOC
    Jul 02, 2021 02:42 PM

    Commercials decreased their short positions this past week in both silver/gold by a nice amount—we have a ways to go but these positions are the most favorable for PM supporters that we have seen in months. I would expect that the commercials will be decreasing their short positions more over the next few months.

      irishtony
      Jul 02, 2021 02:05 PM

      Hi Richard… This might confirm what you just wrote. Are the CFTC finally doing their job ??? !!!
      https://silverseek.com/article/cheating

      David
      Jul 02, 2021 02:42 PM

      Great news Doc.

      David
      Jul 02, 2021 02:46 PM

      CFTC do their job…? What?

      Marty
      Jul 02, 2021 02:17 PM

      Doc, I may be misunderstanding the Silver COT, it seems to me there wasn’t a net reduction overall, , but a modest net increase of 589 contracts

    Matthew
    Jul 02, 2021 02:04 PM

    Weekly hammer bullish reversal for the HUI…
    https://stockcharts.com/h-sc/ui?s=%24HUI&p=W&yr=2&mn=3&dy=0&id=p84553111567&a=949257852

    Matthew
    Jul 02, 2021 02:05 PM

    Weekly hammer bullish reversal for the Canadian dollar…
    https://stockcharts.com/h-sc/ui?s=%24CDW&p=W&yr=3&mn=0&dy=0&id=p13084160542&a=980551499

    Matthew
    Jul 02, 2021 02:07 PM

    Daily bullish hammer for SILJ…
    https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=1&dy=0&id=p39966775745&a=982992113

    Matthew
    Jul 02, 2021 02:08 PM

    Weekly hammer bullish reversal for GDX vs QQQ…
    https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=W&yr=1&mn=5&dy=0&id=p16128523506&a=982105772

    Matthew
    Jul 02, 2021 02:11 PM

    Weekly hammer bullish reversal for IPT…
    https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=5&mn=7&dy=0&id=p22669218198&a=737815119

    David
    Jul 02, 2021 02:36 PM

    Hammer Thingees Everywhere!!!!

      David
      Jul 02, 2021 02:43 PM

      Thanks for the great charts Matthew.

      Matthew
      Jul 02, 2021 02:06 PM

      Hammer time! 🔨🔨🔨🚀🚀🚀

    bonzo
    Jul 02, 2021 02:00 PM

    What is Bonzo buying? So many good choices but today he bought FFOXF@ .24
    The future belongs to Finlandia.

    Matthew
    Jul 02, 2021 02:45 PM

    COT commercial category (“smart money”) improved again this week but only about one-sixth as much as last week. More importantly, open interest barely changed finishing down about one-fiftieth (50th!) as much as last week.

    Last Saturday:
    On June 26, 2021 at 1:45 pm,
    Matthew says:
    COT positioning is the most bullish it has been since the top last summer (from a contrarian standpoint) and open interest just hit another new low. Such readings are not necessarily great for timing but it would have been a bad sign if they were mostly unchanged over the last two weeks.
    I have a feeling that we could see a further reduction of commercial short interest after the low and into strength. Covering into strength does happen occasionally and can be very bullish. I expect open interest to turn up sharply when the low is place.

    Matthew
    Jul 02, 2021 02:08 PM

    A very nice weekly bull hammer for HUI vs Gold:
    https://stockcharts.com/h-sc/ui?s=%24HUI%3A%24GOLD&p=W&yr=3&mn=7&dy=0&id=p57861000205&a=982079501

    Matthew
    Jul 02, 2021 02:18 PM

    Awesome ASA dipped to 50 week EMA and “61.8” Fib support before reversing and even finished the week above its 50 week simple MA…
    https://stockcharts.com/h-sc/ui?s=ASA&p=W&yr=1&mn=5&dy=0&id=p95129698429&a=984955935

    Matthew
    Jul 02, 2021 02:48 PM

    Big bull hammer for SILJ vs GDX has bullish implications for the whole sector.
    https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=W&yr=3&mn=0&dy=0&id=p14346013263&a=984972783

    Matthew
    Jul 02, 2021 02:36 PM

    I hadn’t looked at PGM in quite awhile so I just now noticed that it bottomed in early May at a support that I drew months ago. A 37% advance followed that week’s bull hammer (53% off the low).
    https://stockcharts.com/h-sc/ui?s=PGM.V&p=W&yr=3&mn=3&dy=0&id=p03494348589&a=445306505

    Matthew
    Jul 02, 2021 02:38 PM

    Great bull hammer for Pretium this week (another one I haven’t looked at in a long time)…
    https://stockcharts.com/h-sc/ui?s=PVG&p=W&yr=3&mn=7&dy=0&id=p44009491619&a=617184890

    Buzz
    Jul 02, 2021 02:18 PM

    Wait till Tuesday, when the shorts paint the hammer to another wake up call