With historic events taking place around the globe, the Godfather of newsletter writers, 90-year old Richard Russell, covered everything from a stock market collapse, to gold, hyperinflation, and massive numbers of homeless people in New York. The 60-year market veteran also included a fantastic chart to go along with his outstanding commentary.
Russell: “On the news that Japan is back in recession, the Central Bank of Japan countered the news with a massive explosion in quantitative easing. On this news, Japan’s yen semi-crashed.
The stock market in the US continues with its bullish progression, a sell signal, little downward follow-through, and then either the Dow or the Transports goes to a new high. Today, with 50 minutes to the close, the Dow is well on its way to recording a new record high.”
Russell also included this quick note from Dennis Gartman:
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