No surprise to me that Janet Yellen didn’t raise rates again yesterday; she’s kowtowing to the international economic scene, especially Europe’s disastrous economy and situation.
Moreover, she’s kowtowing to the TRENDS in motion: DEFLATION. Had she raised rates, she’d send the dollar through the roof, worsening the prospects of deflation striking home.
Nevertheless, the less-informed traders and investors out there are taking yesterday’s rally in gold and the euro as a major trend change, which it is not. At the very least, for gold to continue higher now would require a close above $1,302.00 which it’s not likely to see. Trend and timing signals remains bearish. Ditto for the euro.
Unfortunately, you were stopped out of the inverse euro ETF ProShares UltraShort Euro (EUO) yesterday. Stand aside for now, but hold the call options on the euro, if you purchased them.
I’ll go over everything in more detail with you at today’s live webinar at 12 noon EST. Be sure not to miss it!
Hold all other positions and stay tuned …
Best wishes,
Larry
