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Just remember, when the fed hikes the S&P 500 (SPX, quote) will go up! If we are in a place where the fed begins to hike rates, albeit this is different formally than removing stimulus than the economy is on better footing, commodities are rallying and they are just as worried about inflation as they are growth.
With Aussie dollar hitting 11 month lows and price barreling towards 1 year lows of .9602 set last June. This is your target to re-load the gun after taking profits.
Last night’s macro in a word is terrible. China PMI and German manufacturing offer no relief for commodities and they are linked.
My top ten reasons to be scared:
Last night China began the National Peoples Congress meetings (NPC) China makes it clear that they are targeting both growth and inflation and will tinker where they need to but the operative word is tinker.
China’s Shanghai Composite posted its worst move since November 2010 as the property index fell -9.3% and 90 stocks were limit down.
WTI crude oil has been back on the rebound after traders received the U.S. API report reflecting the latest weekly inventory drawdown in eight weeks. Money flowing back out of the U.S. dollar as a safe haven also helps to send WTI higher.
