Daily Reading on the Financial Markets: 1/11/12
As the markets continue to send mix messages (equity breakout, credit still worrisome), Chris Kimble boils the clues down to two players currently testing resistance: US Dollar vs CRB Commodities Index, saying “they can’t both break out.”
Elliott Wave analyst Avi Gilburt believes silver may be ready for a (final) surge to over $50… which would tie in with a US Dollar breakdown and Commodities breakout (above).
Surly Trader points out that the AAII Institutional Bull:Bear ratio is at highs not seen since late 2010, and before that, early 2006… while the Baltric Dry Index plummets.
With a wink and nod, Zero Hedge points out that global Debt-to-GDP ratio have a stronger correlation with global Temperature Anomoly than CO2 levels.