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Heads up for developing change in credit markets

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Latest from Bob Hoye - Alert To A Potpourri Of Problems

 

However, the Baltic Dry Rate (BDI) at 2772 on Friday took out support at 3000, which sets the downtrend. The rebound high was 4291 on June 3. The record high was 11771 on June 21, 2008 and its failure by the end of that month, along with the change in the credit markets provided the big warning on last year's disasters. At a number of important highs the failure of the BDI indicated or

confirmed the advent of troubles.

 

Another indicator would be the dollar index turning up. It has been universally trashed down to an extreme low sentiment reading of 3 percent bulls. There has been some improvement from 77.5 on Wednesday to 79 today.

 

Heads up for developing change in credit markets.

 

Interestingly since publication the USD index is back down and the gold/silver ratio has gone down to 65. Is Bob a little early in his call here?

 

 

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