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The major stockmarkets have avoided a full blown bear market for now and are consolidating at levels some way below previous highs. The caution of the bulls from here is obvious and understandable after the tumultuous start to 2016. So what to look for now?
Gold and yen
I am watching 2 ‘barometers’ in the form of JPY and gold. Both have pulled back from recent probably overextended highs but continue to stay above key levels.
Gold started the year close to US$1,050 and reached a high so far this year of US$1,262 and has settled back down close to but for ... (read more)