Risk Off!

Silver -10%

Let’s take a peek at the equity markets as they continue to get hit here today, with the Russell2k leading the charge down 4.51%

Here is our SP500 chart that we have been highlighting all week and our analog to the FEB technicals, slippery slope indeed:

We highlighted Google yesterday and we are now back below the Covid breakdown gap denoted by the teal dashed line as its down nearly 19% from the highs:

The Dow is getting hit hard as it has now broken out of the 6 month up trend channel:

Finally Silver which we have seen struggle with the mid $27 area getting smoked today down 10%

Bond yields falling and the US Dollar taking the risk off move to trade higher:

FX getting hit:

Ok that’s it we will be back with more!

-Magnelibra Econemotions

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