AI terminates Australian dollar
David Llewellyn-Smith | May 19, 2023 09:45
Australian dollar was terminated to terminal support:
CNY likewise:
Gold is going to liquidate shortly. Commods will go with it:
Big miners (NYSE:RIO) have fugly descending triangle charts:
EM stocks (NYSE:EEM) have ceased to exist:
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The EM junk (NYSE:HYG) warning siren is screaming:
As is the flattening Treasury curve:
But stocks aren’t listening to any of it:
As AI terminates all resistance:
US small banks (NYSE:KRE) couldn’t follow through on the short squeeze so no need for a real economy:
What an extraordinary end to an extraordinary cycle. From COVID crash to tech crash up, to tech crash down on inflation, to tech crash up on disinflation, and now, tech melt-up as AI terminates the need for the real economy at all.
I have seen some market lunacy in my time but this is the craziest cycle of my lifetime.
So, as AI terminates all resistance, future Fed rate cuts are already disappearing, and, next up, are more hikes because inflation still exists in the forgotten real economy:
AUD is caught between the AI melt-up and the Fed response and it is being terminated.
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