In reviewing where economic things stand I have started by updating one of my more important Macro Picture charts, the F3 Asset valuation chart. While we have been seeing a constant wave of manipulation for some time, today may be…Continue Reading →
Over the years I have tended not to react to new news. First one has to find out that it was new news. One has to keep in mind that the economic cycle turned down in October 2018, and that…Continue Reading →
A few days ago we outlined the fundamental Macro picture that we see unfolding from here. With that the core position is in place. The next step is to set the hook on the technical side of the trade. We…Continue Reading →
This morning I feel a bit like I did in the 1980’s when I was fighting the Bunker Hunt silver market rally, trying to be short, but running in a state of disbelief towards the end of the move. All,…Continue Reading →
CNBC brought out their perennial bulls this morning with all kinds of explanations for why the stock market is acting so well. I do have to admit that the five day average for the S&P, at this moment at 9:45…Continue Reading →
What if a Perfect World for the Contrarian is at hand. A world where stocks collapse, bond prices rally, and gold takes off. The Gold / Dollar chart suggests that event is at hand..
While all eyes are on the Treasury and its actions to rescue major corporate financing problems, the dollar is providing its take on things. The rescue of junk bonds through the HYG ETF is probably the backstory. Stocks are back…Continue Reading →
Please take a look back at our March 17 post for the breakdown of macro levels on the S&P. You will note that the 3040 level on the S&P is the macro extension sell area, the high in overnight trading…Continue Reading →
In just the recent past, the January 31 to February 20 stock market move is a good example. Our current over the top period started on May 14, so with a little patience things will evolve. I am not making…Continue Reading →