NFTRH+; another indicator that is not & has not been supportive

The TSX-V/TSX ratio continues to negatively diverge the inflation trades With the caveat that I am still holding some inflation/reflation biased positions… As if the inflation trades needed another negative divergence, here’s an update of the unchanged negative status of TSX-V/TSX, which has correlated with inflation expectations more often than not over the years (see last chart). If you were with NFTRH back in mid-2020 … Continue reading NFTRH+; another indicator that is not & has not been supportive

Taiwan Semiconductor breaks out

TSM moves higher, Semi sector toppy but intact In an NFTRH update on Monday I had expressed a view that the SOX index might have more downside as long as the US market correction persisted, but also that the US market correction was normal and within continuing uptrends and so, no shorting for this non-daytrader. Not unless it’s for strategic hedging or I get proper … Continue reading Taiwan Semiconductor breaks out

Copper/Gold ratio doing it again

Copper/Gold ratio (daily chart) pulls back to the moving averages It’s a tough market, and by this indicator it’s been a tough market for nearly a year. That is because the Copper/Gold ratio refuses to give a signal (cyclical inflation on/off). There are positives and negatives aplenty as shown by other indicators and markets, but this one illustrates well the general theme of the macro … Continue reading Copper/Gold ratio doing it again