/biz/ - Business & Finance

Just giving you guys a heads up, next few weeks are going to see a massive correction in the major averages.

Partly because Eurozone is looking very shitty these days. European PMIs disappointing massively, V-recovery narrative shattering as real-time metrics show very little rebound in the real economy and corona is raging again in many countries like Italy and Spain. A crash in European markets is enough to cause a ripple effect in US markets, but also, it's going to cause a big drop in the Euro and we're gonna see a very large rally in the Dollar. That will further shock equity markets to the downside in the short term.

PMs may be shocked down too but beware, Comex delivery month is winding down and the Sep contract rolls off the board next Friday. The next delivery month is fucking December, and I expect many entities that want their physical will stand for delivery now rather than wait that long. So if anything PMs could go up despite a strong dollar, which shouldn't be surprising given that's exactly what was happening all last year and the first half of this year.