As worried as we are over the wildly overvalued stock market — our 10 crash catalysts itemized herein — let's start with Gold as 'tis our mold. And from this week's title we behold Gold's downtrend for the present has instead gone on hold. Thus to the yellow metal's weekly bars and parabolic trends we straightway go:
Too, in this current "Nuthin' but Fed" trading environment this past week brought significantly disparate Payrolls' reports for the month of June.
Next as promised from the"Worry Warts Dept." comes our assessment of the state of stocks as measured by our preferred gauge: the S&P 500. As egregiously overvalued as 'tis — our honestly calculated"live" price/earnings ratio having settled the week yesterday at 55.7x — the market is never wrong: the herd has put price precisely where 'tis ; it cannot be "willed" to somewhere else.
Be that as it may, the broader fundamental picture certainly is scarier. Just as we have our Investors' Roundtable back in whatever's left of SanFran, here in MC we've expanded by respectfully meeting with some very well-established, hardened investors: and the bearishness is rife.
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