The market was oversold today just as a normal bear market we had a large bounce to the upside. Bears in control looking for lower high below 2950, bulls need to breakout above 2950 to possibly turn this into a weekly bull flag. My expectation is that Powell throwing cold water on negative rates is stock market negative this market needs negative rates and will sell off until it gets negative rates. We have Trump calling for negative rates and Powell saying no, no, no, just like Trump calling for lower rates, Powell initially said no, then he caved and eventually cut to zero, I believe it will happen similarly again.
Negative rates are very bad for middle class, even worse than zero, people who have savings will be stolen from here. This is Gold positive.
Negative rates are very bad for middle class, even worse than zero, people who have savings will be stolen from here. This is Gold positive.