Tuesday's Top Charts | 8-13-2019
Highlights from Monday - Argentina, Hong Kong, tariff threat, global economic weakness spreading, and earnings estimates coming down. And we can add in further breakdown in the Charts. Not a great way to start the week.
Chart #1 We have the ongoing deficit problem. It surprises me that this doesn't get more recognition from Big TV. We have just surpassed the last several years number and are well on our way to a Trillion dollar deficit.....Ugh. For an up to date look, go to https://www.usdebtclock.org/. $22.5 Trillion and growing, quickly!
Chart #2 Argentina - No, this is not a mistake. This is the drop yesterday, after conservative Argentine President Mauricio Macri suffered a shocking defeat in primary elections on Sunday.
Chart #3 Gold - With low rates and uncertainty, gold has been a good place for some time. Right now, this is as good looking as a chart that we can have. Keep waiting for a pause or pullback to add, but haven't yet seen that opportunity. If it does, we'll add to it.