Equities -2% Across the Board
Oil and Silver Falter
Equities tried to bounce pre NY open but have been in a sell program all day:
As discussed in our Early AM note we have a lot going on here today narrative wise.
Expected tariffs on the EU
Resurgence of Covid in California and the Southern states
Pension Fund rebalancing for Q2
Struggling technical’s and fundamentals justifying this epic run (QE Driven)
Canada loses AAA status
Tech companies seeing increased Anti-Trust rhetoric
So a lot to digest here and the algo’s are having a field day with their ML (Machine Learning) reading NLP (Natural Language Processing) AI running rampant with the sell orders and pulling all bids.
We also wanted to note this curious move out of the July Silver at 7am this morning, it was a standalone order as gold barely moved:
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