Markets Scared, but Positive…

At this point the markets are obviously in what the media calls the piece dividend period. This may sound good, but the markets are not stupid, at this point the current Global Macro situation is seeing relief, however down the road a couple of years, things are no better. The Iranian’s still have their uranium, and they will be more inclined to build the bomb, even though it may require digging a ten-mile-deep hole first. Ironically, this could bring peace to the Middle East as once they have the bomb, autocrats and dictators around the world will have to leave them alone.

As to market indicators, our Market Multiplier “Animal Spirits” Indicator is showing signs of breaking out into the higher historic levels.

Here is a table of this indicator’s levels, note the all-time high recorded for this proprietary index occurred the week of March 15, 2021, as the Covid liquidity injections powered things upward.

week of March 15, 2021 3.92 record high since 1985

week of Sept 7, 2021 3.50 start of breakdown of animal spirits, market kept rising

week of june 13, 2022 1.69 bottom for “Animal Spirits”,

week of August 25, 2025 3.35 Animal Spirits made a top

week of March 9, 2026 2.36 Animal Spirits bottomed

today, week of June 15, 2026 3.21 heading for a test of August 25, 2025

Our Monetary Multiplier index has also improved, moving up out of the bottoming area in which it has resided since February 23, 2026. Declining gold and silver have been the biggest factor in this improvement. The next shoe to fall will be interest rates down the road.