Archives: Mish's Daily

Lots of Instruments Launched and Almost Launched Today

Mish Schneider | May 27, 2020

By the time you read this, NASA will have canceled its scheduled launch to send the first humans in space in nearly a decade. Regardless, SpaceX’s Crew Dragon Capsule with Bob Benhken and Doug Hurley (astronauts) aboard, represents a great era for the USA. Hopefully, with a successful flight planned for May 30th, we are one step further away from the COVID-19 blues. In the stock market, we saw quite a few launches despite the

Oil and Gas

Mish Schneider | May 26, 2020

I knew that this picture would become one for the history textbooks! A while back we pondered whether the worst of the oil market debacle was over. Currently, that depends on a lot of “ifs”. If OPEC adheres to its 9.7 million barrels a day If Russia sticks to its 8.5 million bpd If Saudi Arabia and Russia stick to their deal If demand remains robust, thereby cutting the oil glut If the storage capacity

Virtually Travel the World and Make Money!

Mish Schneider | May 24, 2020

I have spent most of the time in 2020 analyzing, writing, and speaking about the US markets and commodities. Therefore, I thought it time to explore the International ETF Country Funds. I have vetted them for you. In the latest presentation I did for, I begin showing you MarketGauge’s ETF Monitor. From there, I break it down into regions. I start with Europe, from there go into Asia, then the Americas, and end with

Masks Off or is that Risk Off?

Mish Schneider | May 20, 2020

Tuesday night we reminisced that on February 5th I wrote in a blog, “Although the last couple of days brought back euphoria into the market, with volatility hanging tough, one should be prepared for anything.” That sentiment remains true right now. With volatility holding recent lows while NASDAQ gets closer to all-time highs and the S&P 500 inches closer to 3000, complacency and euphoria are risk on terms. Yet, as millions take off their mask

Moderna and Volatility Index Flashing a Warning

Mish Schneider | May 19, 2020

A warning does not necessarily have to become a full-blown sign to head for the exits. But it is, nevertheless, a warning. The last time I saw a warning from VXX or the Volatility ETF, was in February. Granted, on February 5th, the title of my Daily was “Volatility’s Inverted Hammer Doji Warning to Bulls,” and today’s technical pattern is a bit different. Yesterday VXX had an inverted hammer doji pattern, while today, VXX rallied

Historic Market Divergence, What Should You Trade?

Mish Schneider | May 17, 2020

Stanley Druckenmiller came out and said that the market has never been this disconnected from reality and that the risk/reward has never been this bad. Besides Druckenmiller, Ray Dalio had some words about the market: The dollar, euro, and yen are in the late stages of their long-term debt cycles. This could mean that in the near future our dollars could be potentially worthless. One of the reasons Ray Dalio says were are at the

Checking in With the Economic Modern Family

Mish Schneider | May 13, 2020

Last night I wrote about the compression in the weekly gold chart. Today, gold closed green but did not take out 162 (GLD) or the top of last week’s trading range high. This is super exciting to watch unfold. Will it clear? And if so, how far can the price go up? Plus, what are the real ramifications for the market? Elsewhere, we have our Economic Modern Family telling its own story. Remember I covered

What is Compression? 4 Inside Weeks in GLD

Mish Schneider | May 12, 2020

Compression, decrease in volume of any object or substance resulting from applied stress. Compression may be undergone by solids, liquids, and gases and by living systems. And apparently by gold. What is the applied stress in gold? For one, too many bears. Secondly, a relatively strong dollar. Third, rising yields, although today yields did soften. Fourth, a belief in the recent rally in equities abating investors fears to a degree. Yet, even with all that, gold

Biotechnology Sector Rocks to New All-Time Highs

Mish Schneider | May 11, 2020

A week ago, I wrote a blog called The Beauty of the Biotechnology ETF Channel. I began by writing, “If there is one area to watch should the market have another run up, it is Biotechnology IBB. The channel lines that are perfectly parallel, go back to 2015. Since this is a weekly chart, what matters most is the weekly close.” Last Friday, IBB did eek out a close above the weekly channel closing at

Why the Bullish Dollar Theory Is Flawed

Mish Schneider | May 10, 2020

Maybe I just love a contrarian view. My dollar theory differs from so many analysts. First, I know that the traditional relationship between the dollar, commodities and the stock market holds for a while, then completely shift according to each economic cycle. I have experienced it during my trading career and delved into it when I was writing my book. Secondly, I know that all relationships in current times are historic and suspect. Just think