Faster Than A Speeding Bullet

Faster than a speeding bullet.  More powerful than a locomotive.  And able to leap tall buildings in a single bound.

Is it a bird?  Is it a plane?

No, it's…

Not superman.

It's this wild and crazy market.

Above you see the treacherous fall into the close on Wednesday, followed by an equally, if not more impressive rise to the close on Thursday.  This market really does move faster than a bullet.  In an instant, it's powering higher or lower and faking out technicians left, right and center.

What seems like cause for concern in the early morning has become cause for celebration by day's end.  But what is the cause?  Maybe it is the bullish headline news that the “Fed Likely to Push Back on Market Expectations of Rate Increase.”

If you're confused and unsure of the reason, you're not alone.  The precious metal of the last few millenia, gold, has been decidedly schizophrenic the past couple of days.

But the miners didn't hold back in joining the bullish party with a massive surge into the close on the rumor speculation.

Now here's a test.  What is this chart below referring to without cheating and looking at the symbol?

Surprising to those who've been watching the dollar anti-correlated to the markets in recent years, but we do see that King Dollar is back, moving in tandem with the markets.

 

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