The announcement from Treasury Secretary Bessent yesterday seems to be creating less confidence in investors’ minds, not more confidence…….This is not great given that we’re heading into a seasonal period that is frequently rough for the markets.
Gold and Bitcoin are showing signs of breaking out after both had built a nice “base” over the previous 6-7 weeks. If these moves can hold…and see just a big more upside follow-through in the coming weeks…it will be very bullish for them on a technical basis. (A weaker dollar is helping these asset classes, but a lack of confidence could be at play as well.)
