It was a very bearish start to the year, with the sp'500 -103pts (5.1%), @ 1940 (intra low 1812). The Dow saw a net decline of -958pts (5.5%) @ 16466 (intra low 15450). WTIC Oil settled -$3.45 (9.3%) @ $33.62 (intra low 27.56). Copper, -3.5% @ $2.06. US bonds saw a bullish break to the upside, with TLT +5.6% @ $127.30.
Econ/Market chatter from Schiff
Schiff's point about statistics and GDP data interpretation is important. As for the BoJ implementing NIRP - with a rate of -0.1%. its pretty incredible. Now it is indeed a case of whether the Fed will follow this late spring/summer.
As for February
It would seem we'll see further upside into the week of Feb'8th, but from there.. we'll likely get stuck and max out. A potential 10-15 day crash wave will be viable in March.
Goodnight from London
*the weekend post will be on the world monthly indexes