Things are Unfolding

The following are three of the backup charts that we use, charts that I see as part of the adjustment to value in the macro environment. Here is the first, the Biden strong dollar trade that includes long bonds and short stocks to smooth out the direction.

Here is the second chart, the ten year bond price vs dollar value. This would indicate that the biggest push will be from the dollar side of the above trade as ten year bonds will lose vs the dollar.

And here is the chart in which the big pop exists, the S&P vs the Dollar, a chart that is stretched above the 200 day average about as much as it was below on March 16. Today a full cup formation with everyone on board for the spill.

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