The relationship between Consumer Discretionary (and its big Amazon component) and Consumer Staples is an indicator on risk tolerance vs. defensive behavior in the stock market. Much like we did…
A holiday week is always a little dicey, but NFTRH's Market Internals segment has been turning more indicators from green to neutral to red over the last several weeks. Here's…
I preface this post about bearish indicators with a note that I am currently long only, in the form of SPY and IWM (while looking for short opp's in individual…
In the previous post we illustrated a measure of extreme stock market over valuation in comparing the dividend yield of the S&P 500 to that of the 10yr Treasury Note.…
Tell me, is it good that the Yield Curve has not come close to the dynamic quick fire performance it had during the February market disturbance? Why, today it even…
There are a lot of failing leadership signals and the market's got bad breadth, but this one persistent signal just has not given up the ghost. Junk bonds and Junk…
We began the Amigos theme last year in order to be guided by the goofy riders during the ending stages of a cyclical, risk-on phase that was not going to…
The flattening yield curve has attended the boom in the US economy and the bull in the US stock market. A change in the flattening status will change the dynamics…
It has been a long while since the last Amigos update because frankly if the characters, images and shticks I invent to portray market status begin to wear on me…
[Warning: confusing post alert!] The BKX/SPX ratio (Banks vs. the broad stock market) used to be a consistent traveling companion to the inverse of the gold price. In other words,…
A rising Silver/Gold ratio (SGR) would be positive for the global equity 'anti-USD'/inflation trades, including several US sectors, commodities and the precious metals. For the first time in over a…
To the 2 Horsemen (Gold/Silver Ratio & USD) we should add Amigo #3, the Yield Curve as another important macro sign to watch for. The 10yr-2yr curve is only on…
As is usually the case if these riders are going to change the macro the damage starts at ground zero, the precious metals sector. Here is the Gold/Silver Ratio (GSR)…
A concurrent rise in the Gold/Silver ratio (GSR) and US dollar can be a bringer of death and destruction to the macro, after it wipes out the precious metals, commodities…