The market seems to be in the eye of the storm. Stocks are up, rates are low, and the world turns. Gold has blasted up above its 200 MDA and this has given the system some leverage. Still, I am amazed at how the economy appears in the eyes of the many. It is as if there isn't a pressing issue around.
Europe has a huge debt rollover tomorrow, one that should roil the markets. I expect gold to climb tomorrow, if not for a few days. I think a swift move to $1700 is not out of the possibility.
The Iran war scenario is making waves. There are a bunch of carriers amassed around the State and it appears trouble is brewing. Iran is having a currencie crisis of epic proportions, which is the worst thing that can happen to a country. Basically the top of the mountain is about to blow and the ash will spread from Persia around the world, blotting the sun in the sky.
Yet it appears to not trouble anyone. It is as if everyone is in a daze and a spell has been cast among all. The trance could last for some time. Until that time....