From NFTRH 537's Market Internals segment... "Who's leading you astray, nominal Junk or its hidden bearish indicators?" Junk has since made a new high. Whee, party on Garth! Junk/Investment Grade…
I am on record as leaning toward a seasonal rally (with the FOMC wild card stuck right in the middle of the deck), but it has been elusive as we…
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…
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…
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,…
Not much has changed since the last 3 Amigos macro update. Amigo #2 (long-term yields) has long-since reached the Continuum's ™ limiter (the 100 month exponential moving average on the…
You have better things to do than read droning macro analysis or long, drawn out investment theses. It is a weekend in the dead of summer and for that reason…
It has been a while since we've had a 3 Amigos update because a) Italy and global tariffs noise aside, nothing much has changed with the macro and b) I…
We have watched every step of the way as the 10yr yield hit and now crossed through its target of 2.9%. But what of the big daddy, AKA the 30yr…
[Article edited/updated from original] It's the happy-go-lucky 3 Amigos (in play since we began this goofy metaphor last fall), which would signal macro changes to come. When you are talking…
In line with a near-term bullish theme come the cyclical vs. counter-cyclical metal indicators. The most important, due to its multiple cyclical metals is the Industrial Metals (IM) vs. counter-cyclical…
We began months ago, noting the 3 Amigos destined for their goals. Here's a post from November 2017 explaining the macro fundamentals involved: Updating the 3 Amigos of the Macro…
It's the metallic indicators again, doggedly refusing to negate their bearish turn. Thanks to subscriber Joe for giving me the heads up on this. The first part of my day…