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Prices are below the 200 day EMA, indicating we're in a bear market. Also note that prices have broken the upward sloping trending. In addition, prices are now in a downward sloping channel. All of the shorter EMAs are moving lower, the 10 day EMA has moved through the 50 day EMA and prices are below all the EMAs. However, the EMAs are bunched together indicating there's still some confusion about where traders want to send prices.
2 comments:
How does this correlate to the upside-down H&S in equities, if at all?
The GDP numbers have been fudged for some time. This is partly due to the spurious additions of imputed incomes and partly to do with the price deflator used. The numbers relating to inflation have been fudged to the downside as anyone with a pulse can testify to. Also the stimulus in 2008 added to GDP with no concrete effects. Thus it would be instructive to calculate the GDP loss required to produce the level of unemployment observed. This should yield a number more in line with reality than the fiction published elsewhere or at a minimum help to explain the discrepancies.
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