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Are rapidly falling Crude Oil prices a sign the world is shrinking from an economic point of view? Some say too soon to tell.
Are rapidly falling Copper prices a sign the world is shrinking from an economic point of view? Some say too soon to tell.
Cattle and the S&P 500 are often considered decent barometers of global confidence or lack of. At this time, these two are NOT following in the footsteps of the Crude/Copper trade at this moment.
Billions of free thinking people have created patterns in Cattle and SPY that should be respected as potential resistance. Yesterday Cattle were down big, lock limit down. One day does NOT make a trend for sure. Investors might want to see if this continues in Cattle, as a bearish rising wedge took place at the top of a rising channel.
Yesterday the S&P had a “big reversal day” for the first time since 2011. (See Big Reversals here)
If Cattle and SPY follow in the foot steps of Crude and Copper, odds increase we’ve got at least a small case of global shrinkage on our hands!
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