Time Running Out

For the full macro details, please check yesterday‘s extensive analysis if you haven‘t done so already.
Let‘s move right into the charts (all courtesy of www.stockcharts.com).
Today‘s closing prices would reveal sharp and ongoing deterioration. The reprieve is over after a few measly days.
Setting the tone, setting the tone – and it‘s one of shrinking liquidity – but the turn in long-dated Treasuries higher, is approaching. It‘ll be in recognition of darkening economic prospects.
Precious metals sector would hold up best, gold with miners look cushioned against further declines. Namely given the following charts‘ posture.
Crude oil had the hallmarks of a local bottom, and given that it‘s not holding in today‘s trading, the Powell testimony is likely to add to the short-term pressure regardless of China being hungry for more black gold.
For many weeks, I had the greatest reservations about copper, and its chart posture has turned ugly. I don‘t see the Fed pivoting yet, or markets moderating their downswings in anticipation thereof.
This bottom searching isn‘t over, and cryptos are likely to keep declining, which has been in line with one of my calls of late.
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