Jim welcomes back Robin Griffiths, Chief Technical Strategist at ECU Group in London. Robin believes the globe is slipping into a collective bear market, and advises taking risk off the table. He sees the two strongest markets as the US and Japan, based on their strong currencies. Robin also sees the ingredients for a global flash crash, along the lines of 1987. As to energy, it has broken support, and the next level is around $20 a barrel. He characterizes the Middle East situation as “desperately unstable”. Robin notes that gold could have seen its low, but it may also go as low as $960 before bottoming. Longer term, he is bullish on the price of gold. Also in this segment, Ryan Puplava has this week’s Market Wrap-up, and Ned Schmidt covers the commodities markets with Jim.
.
