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The S&P 500 closed below its 200-day moving average. This hasn’t happened since June 2016. Tomorrow we could see an avalanche of selling, economist Jerry Robinson tells Silver Doctors.
Looking at the monthly chart, the S&P 500 uptrend is still in tacked, but it is weakening. A tremendous amount of money has been flowing out of the market, indicating a trend shift may be approaching. Until a clear trend emerges, Robinson is staying on the sidelines.
How will the oil futures contract priced in Yuan impact the petrodollar? The petrodollar system creates a perpetual demand for U.S. dollar, but this new contract will erode this demand, Robinson says. At that point, the Fed will no longer be able to print money to solve problems without causing inflation.