The US Dollar really should have bounced yesterday, after last week's strong sell-off. It didn't. #gold #silver

Competition is an antidote to #inflation

The Rare Earths ETF has been channeling higher, but seems to have run into overhead resistance. I'm not a buyer in the short term.

Money is flowing out of value and into growth.

Here are daily and weekly charts for #crude #oil. After a big run, daily crude oil had a terrible Friday. Some pullback may be in order before it takes another test of overhead resistance at the 200-day moving average. The weekly chart is improving, though!

Here's one of the drivers behind the bullishness for everything else -- the weekly U.S. dollar is breaking down. The working target is 90.

Weekly $SPX is breaking out. Initial target is 4749

Weekly #silver is looking bullish, too.

With weekly #gold bullish again, it's time to look at the 2-year cycle chart. Good luck to us all.

Weekly #gold just regained bullish momentum. Volume is higher, too.

Daily #Copper broke out, despite Friday's pullback. I've been watching weekly copper to see if it breaks out as well. It hasn't -- yet -- but momentum, as tracked by the Force Index, just gave a buy signal.

More good economic news: The unemployment rate is at 3.6%, still close to a multi-decade low. Importantly, the labor force participation rate for prime working age people (ages 25 to 54) increased to 83.5%. That’s a 21-year high.
A recession is NOT likely, though the Fed may keep raising interest rates until it gets one.

US CPI has moved down from a peak of 9.1% last June to 3.0% today. That's 12 months in a row of declines, but still not at the Fed's 2% target.

What's driving that decline? Lower rates of inflation in Fuel Oil, Gasoline, Gas Utilities, Used Cars, Medical Care, Apparel, New Cars, Food at Home, Electricity and Transportation.

June CPI breakdown by category

Money is getting tighter in America. More lenders have stiffened their standards in the wake of increasing turmoil within the banking sector, according to the Federal Reserve’s quarterly Senior Loan Officer Opinion Survey (SLOOS) released Monday. https://www.reuters.com/markets/us/us-credit-crunch-didnt-start-with-svb-collapse-may-not-end-there-2023-05-10/

Fed Gets Room to Hold in June as Inflation Shows Sign of Cooling
April CPI rose annual 4.9%, first print below 5% in two years
Markets are still looking for Fed to cut rates later this year