if Gold breaks 1754, it is going to be a slide back to 1600, and then 1500. Now all markets are hijacked by the Italian Bond Yield, and then EURO.
The market maker just make one market and all follows, isn't this a good deal ?
SPX back to testing the 1225 level. The drop is no big deal.
Markets talking about those Off Balance Sheet instrument of Banks, like the Repo with sovereign debt is treated as cash. How much more OBS are there in European and American banks ?
China Inflation has suddenly slowed to 5.5% from 6.1%. It is quite a drop, expected to gointo 4.x region next release. The credit seizure in China small businesses is now spreading to Guangzhou, after hitting Wenzhou. China is now importing more than its export. When we hear of large properties developers in China going bonkers, that is about the bottom. Meanwhile developers are giving 20% discount to their stagnant properties. Hong Kong properties diving, while Singapore is holding up good, thanx to the European and American companies putting up expensive offices there.
Otherwise, we may see a good bounce today, as the completion of B wave retracement. (A wave from 1215 to 1272). So a C wave should complete this rally into 13xx.
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