Pivot Point Analog Update

Pivot Point Analog Update

We originally added our Nikkei pivot point logic to our overall framework of analyzing the index in early December of last year in this post. Thus far, the path the Nikkei has traveled following its 10/17/14 pivot point low print of…...

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4 Years of Biotech Relative Outperformance Appears to Have Run its Course

4 Years of Biotech Relative Outperformance Appears to Have Run its Course

We’ve been bullish on biotech for a long, long time dating back to summer 2012 in posts outlined here and here. Despite many calling for tops in the space for quite some time, I’ve been reticent to do so, outlining…...

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Something Amiss in Gold

Something Amiss in Gold

This past weekend I pieced together this global macro & cycle post and in it, called out gold as one of a few commodities (along with crude) that appeared to have begun a renewed phase of downside.  Specifically, I cited gold…...

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Europe Relative Strength Worth Monitoring

Europe Relative Strength Worth Monitoring

In our 2015 working thesis post we highlighted the interesting technical set-up in Europe. Specifically, we highlighted this ratio chart of the STOXX600 vs. SPX which was sitting on 25-yr channel support at the time and suggested if ever Europe had…...

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Global Macro & Cycle Round-Up

Global Macro & Cycle Round-Up

Last week we highlighted the USD and the critical long-term swing resistance it was pressing against.  As it turns out, the USD blew past that resistance later in the week, per the chart below.  In that chart, note that said…...

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Angelic

Angelic

In the chart below HALO is caught in an interesting looking ascending triangle pattern of sorts b/t lines (1) and (2). This pattern has been developing for a decade and reminds me an awful lot of the same patterns that…...

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Potential for Sustained Yuan Weakness Likely Signals End of 20-Year Global Economic Paradigm, Nascent Beginnings of New One

Potential for Sustained Yuan Weakness Likely Signals End of 20-Year Global Economic Paradigm, Nascent Beginnings of New One

The Chinese Yuan, and all of its concomitant strength, was likely the most important global macro asset of the past 20 years, 1994 to present day.  It effectively defined a global economic paradigm with the following implications for the West…...

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Major Long-Term Swing Resistance for USD

Major Long-Term Swing Resistance for USD

Is now at hand. What the USD does here will have major implications across all macro assets.  Most notably, if it can break above, commodities likely continue to tumble and put in new cycle lows along with other sovereign currencies. Truth…...

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Global Index Round-Up

Global Index Round-Up

In the chart package below I present nine different global stock indices.  Just want to provide a quick and dirty look at how various global macro equity indexes appear on a chart-basis right here to frame things up.  Not a…...

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