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You Know the Old Saying 9/1/21

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The more that things remain the same, the more they remain the same. 

Powell announced that tapering of QE will start immediately. That's different. 

Meanwhile, the trendline from the August 19 low is still there. Touched 8 times, and headed for a 9th here in the early pre market, approaching noon in Europe. The line is currently at 4532, but there are a couple of additional trendlines a point or two below that. All would need to be broken to suggest a potential end to the uptrend. Then they'd need to break 4520. 

Resistance is at 4544-45. If they break that, the next target would be 4565.

tvc_bc46c67dc2f3a150453b341de6def1a5.png

 

And for your longer term listening and dining pleasure:

Here’s What Happens When Gold’s Cycles Are at Cross Purposes

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Here are the Keys to More Upside as Cycles Get Back In Sync

QE Still = 100% of Treasury Issuance, But Coming Change = Crash

 

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49 minutes ago, potatohead said:

US TREASURY GENERAL ACCOUNT $356B AUG 31 VS $263B PRIOR DAY

was this tax receipts?

No. End of month note and bond settlement. The net settlement was $110 billion after T-bill paydowns.  Tax collections come in on Sept 15. That will give another little boost. If it's strong, it could push DD Day out a few weeks, but I think that the legal mandate to make the military pension fund payment is on Oct 1, so that's still an issue. 

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