Equities Run and Silver #Fail

Well we kinda figured the $30 level was too important not to run into test and fail! The question is will the run try another attempt? We all know the manipulation that exists via paper selling, yet we also know the powerful continue to have more bullets than their adversaries and its a tough current to swim against. Anyway the equities continue to be bolstered by reflation, however we have to heed the warning that the recent volatility up at the highs doesn’t provide any comfort!

In fact we are seeing the NQ begin to lose steam here vs our 2x RTY spread:

The FX has also shown weakness which doesn’t bolster the pro equity theme either, so what gives? Well too much money chasing too few assets, period! However as we have written long and exhaustive in the past, not everyone can monetize at the same time. Meaning how do you extract value and sell assets when there aren’t many buyers except the global central banks? Well you have to do it cautiously and under the radar, or just exit like B…