$IRX Weekly

A requirement of the end of a bull market is a yield curve inversion. People would argue that since no yield curve inversion has occurred, that the bull market will remain intact until we see an inversion.

You might not get an inversion due to QE policies that are lowering interest rates at the same time as the market is setting lower rates.

But there might be a yield curve inversion between bond markets internationally, and this has to do with rates going negative in Europe and the rise in the $U.S. Technically speaking, a yield curve inversion has been in vogue for over a year.

With the decline in the $U.S., the inverted yield curve has now reverted to steepening.

http://schrts.co/SXgMle

!PRII Monthly

Gold price advances have relied on the fact that interest rates remain below inflation, so cutting out interest rates, you formulate a picture of inflation, which is really a decline in the $U.S.

But gold is one of the very few financial commodities, which is affected by interest rates, but also benefits from currency devaluation. So if interest rates are held in abeyance, and inflation higher overall than is expected, then you would expect a decline in the currency.

http://schrts.co/VIGlSA

$TNX:!PRII Weekly

We have had a couple of relentless weeks of snatching defeat from the jaws of victory along with the steepening of the yield curve after an inversion lasting over a year, and commodities dropping off the bandwagon. But the gold price seems to have gone unaffected by the rise in the dollar.

The gold price is higher than you would expect, given all sane metrics, probably for the sole reason that traders are hedging their bets against a currency devaluation.

http://schrts.co/owsIfs

$GVZ Weekly

The correlation between gold prices and gold price volatility has turned, so I would be expecting advances in the gold price on low volatility days. We can stand a few weeks of uncertainty here, as volatility is declining overall.

http://schrts.co/bZi84z

$CDW:$Gold Weekly

A lot of complaints about the $U.S. Gold price have to do with testing the 200-day moving average and not succeeding at rallying above it. But the $CAD gold price has tested and re-tested the 89-week EMA, without breaking down.

http://schrts.co/X6fxJP

$ONE:GBN.V Weekly

Given that you have a decline in bond prices as the bond markets let off steam globally, this would be an opportune moment for GBN.V to affect a posture of of business-like sincerity, rather than slouching around.

The basis for the valuation of equity swaps is U.S. Bond prices, so on the reversal of bond prices, you would expect that GBN.V share prices would trade up. But mostly I think traders disallow any advance in GBN.V for the sole reason that their accounts cannot stand even a 0.005 cent rise in the share price.

We are three weeks before 'startup' and two months into the new fiscal year with nary a peep.

http://schrts.co/9RlrT1

-F6