“Woke up and wasn’t even going to check my silver shorts….I was shocked”
Marshall Swing sent us a quick comment about the smash on Tuesday, and today he was kind enough to follow it up with his chart.
The barrage of news has been relentless this week to say the least, and BOOM, we got hit real good on Tuesday.
Marshall wanted me to point out the fact that just the hint of rate increases is enough to manipulate the markets.
He made particular note of this article posted over on CNBC.
Here’s some of that hinting:
Kaplan, who is not a voting member of the Federal Open Market Committee in 2018, said he expected the U.S. economy to grow about 2.50 percent to 2.75 percent in 2018, underpinned by the biggest tax overhaul in 30 years enacted last December.
He cautioned the tax boost would fade in 2019, slowing gross domestic product to 1.75 percent to 2 percent growth rate by 2020.
With businesses expanding and the consumer sector in “pretty good shape,” Kaplan said the Federal Reserve will likely stay on track to raise key overnight borrowing costs at a gradual pace.
He told reporters after the event that he was not committed to whether the Fed would raise short-term interest rates two or three more times in 2018.
Interest rates futures implied a more than a 50 percent chance the U.S. central bank would increase rates by year-end to bring its target range to 2.25 percent to 2.50 percent, according to CME Group’s FedWatch program.
Marshall also says to take note of the rise in home mortgage interest rates and the rise in crude oil.
Finally, Here’s Marshall’s reaction and commentary, through his chart, on events leading up to and including Tuesday’s smash.
It’s really a great “play by play” if you will, on both trading mentality, and on precious metals price suppression.