As we near the end of a wild trading week, Fred Hickey comments on the takedown in the gold market and Fed comments.
On May 15, the GDPNow model nowcast of real GDP growth in Q22019 is 1.1%. View GDPNow for more details. — Atlanta Fed
Consumer Being Squeezed
May 16 (King World News) – Fred Hickey of the High Tech Strategist commenting on gold and GDP: So much for the administration’s crowing about 3.2% GDP growth. That’ll be the high mark for this year (and likely next).
RECESSION ALERT: GDPNow Chart Heading South
In 4 minutes leading up to latest attempt to talk up markets GLD traded 23,867 shares. In 4 minutes following the stock market “save,” GLD traded 776,277 shares (almost all at once) & all to the downside. Algo dumping. Had nothing to do with supply/demand or anything fundamental.
King World News note: The COT report will be interesting tomorrow and next week.
***Also just released: MAJOR ALERT: One Of The Most Unbelievable Things You Have Ever Seen CLICK HERE TO READ.
© 2019 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.