Markets and the dollar are approaching a crucial point
The dollar has started its correction. There's more downside but it will find support. When it reverses up and finds its next top will be the final tell tale in this game. That will be the deciding factor in where these markets go once and for all. Albeit about 3 weeks away, the markets have priced in a 50 point increase at the next meeting. However the 75 point has gained some momentum. I think too much damage has been done to the economy (covid closures causing shortages and inflationary pressures, high gas prices) and we're still headed for a recession year end. The markets trade 6-8 months ahead of recessions. Hence all the turmoil. If the Fed were to increase 75 points, I think it's possible the dollar puts in its multi year top and the markets have their major washout. What will follow after that will be a reversal in the Feds actions in order to calm the markets and provide the support. That's when we'll get our major commodities run. Good and silver and hopefully nickel will follow. GLTA