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Precious Metals and the U.S. Dollar (DXY):I keep thinking that the 3% plunge in Gold (GLD) and the near 5% plunge in Silver (SLV) are a liquidation event into the end of the quarter in reaction to last week's parabolic spike in 10-year YIELD from 4.93% to 5.23%. A risk-off reflex action ahead of the start of Q4...That said, however, I also think that Wednesday's PCE Inflation report for August is the next significant headline risk (reward) for precious metals. If PCE comes in cooler than expected, then YIELD and the Dollar should moderate and the PMs should catch a bid.
There is a certain irony in writing about IonQ. The company builds machines that work in probabilities, where nothing is settled until it is measured. Yet its stock trades in a market that, according to the most influential theory in academic finance, carries no useful information in its own price history.We see it differently. And IONQ happens to be a good place to show why.First, a brief word on the company, in its own terms. IonQ now calls itself the "world's leading full-stack quantum platform and foundry," with trapped-ion systems spanning computing, networking, sensing and security.
As the market is meandering down today, the pattern continues along its messy route. So much so, that I am not even posting an ES chart as the structure is too overlapping to come up with anything that is reasonable. So, for today, I am simply posting the SPX charts, as they seem cleaner.As I mentioned in yesterday’s update, I am forced to view the current structure as a (w)(x)(y) complex structure within this b-wave. And, within this structure, there are a number of calculations of wave relationship ratios which suggest that the .500-.
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