Home Markets Enjoy the Market “euphoria” for as long as it lasts….

Enjoy the Market “euphoria” for as long as it lasts….

by admin
John Faraclas

John Faraclas

“The Sirens and Ulysses” – not to be confused with Ulysses and the Sirens.., particularly the painting by William Etty spells it all about the markets, beyond the metaphorical meaning. When you stare this magnificent painting you will understand the similarities with today’s market, so don’t be fooled! Geopolitics going over the top creating havoc…. John Faraclas daily assessment:

The BDI gained 38 points earlier on today, going over and above the 900 points mark (903), thanks to the Capers’ continued “euphoria”…

The BCI with another 154 points plus is now reading 2,118 point, breaking the 2,000 point mark for the Capers of course; not to be confused for the BDI’s…

The Panamaxes did a bit better than the last two days, adding 16 points which makes the BPI stand at 673 points.

The Supras and Handies got peanuts…. The BSI gained just two points now standing at 662 and the BHSI only one, reading 418 points respectively. You see, these two sizes haven’t been on the 50 plus points per day so we can be slightly confident of a bit of an upturn…

So, without a doubt a “better” low dry market level, but be cautious! Remember, you need to see another 1,500 points plus for the BDI to make a bit of sense… All things being equal, shipping is diving to unchartered waters….

The Wets followed the plus modus and the latest published BDTI (Dirties) and BCTI (Cleans) now read 588 (plus 22) and 389 (plus two)… Still a long way to go as we need to see both indices above the 1,000 points!

The WTI as of 14:47 BST reads US$ 45:03 – on the plus; caution…

The Geopolotics part will be updated later on tonight; The MIGRANTS* and the Warring regions are the main themes. Add the attack on the Israeli Embassy in Turkey and see what we have been warning you long ago on Turkey…

I am sure you all read the reports from Genoa with respect IUMI’s conference; it counts a lot for the Markets…

Have a nice afternoon and early evening / morning wherever you are!

*Another boat disaster yet again…. Off the coast of Egypt this time with at least 29 or so drown –  600 plus were on boat the boat…

You may also like

Leave a Comment