S&P 500’s Moment of Truth is at Hand

We expected a holiday bounce, and it finally arrived after much hysteria. So why get hysterical now that it is playing out exactly according to plan? Personally, I want this pig to find resistance and drop anew to a) make me right in my preferred view and b) allow me to plan profitably and provide sensible analysis for NFTRH moving forward. But this is the … Continue reading S&P 500’s Moment of Truth is at Hand

Amigos 1 & 2 Arrive, #3 Still Out There (as yield curve flattens)

The 3 Amigos were a blogger’s way of not boring himself to death while fleshing out important macro indicators month after month. Amigo #1 (SPX/Gold ratio) got home and dropped from target. What’s more, it has taken back the ratio’s equivalent of the entire Trump rally and that is an eventuality we are very open to on nominal SPX as well. The gaps are interesting … Continue reading Amigos 1 & 2 Arrive, #3 Still Out There (as yield curve flattens)