Being Analytically Honest, Presenting the Other, More Bullish Case for Gold & Miners

Had an earlier post this morning on why gold was technically broken. So long as prices remain below the 12 month MA will continue to believe that the onus is on the metal to prove itself to the upside. That…...

Member only content: Login to view or Register

Which One has the Correct Macro View?

Bonds or stocks? One of these is going to have egg on its face when this is all over. Longer-term, the 10 Yr UST is suggesting the fair value on the SPX is < 700. Is the 10 Yr UST correct or is…...

Member only content: Login to view or Register

Long-Only Shops & Equities, Sittin’ In a Tree…

K-I-S-S-I-N-G… To say long only funds are in LOVE with equities here is an understatement. As of April month-end, mutual funds held less cash and more stocks than they ever had before – we’re talking 60 year lows on the…...

Member only content: Login to view or Register

Price Action in Gold Suggests the Metal is Technically Broken, At Least For Now

The fundamental case for gold is quite clear as it pertains to ongoing global monetary/fiscal crises and the threat that central bank intervention/”money printing” leads to future runaway inflation. In fact, from a crisis-hedge standpoint, isn’t the world we live…...

Member only content: Login to view or Register

Airlines Successfully Clearing First Test of Resistance, More Upside in Play?

I know the airlines group is generally loathed. That said, in a post earlier this week it was noted that the group’s relative performance against the SPX has tracked the general decline in the USD for over a decade now and…...

Member only content: Login to view or Register
Euro Financials about to Out-perform Near-Term, Positively Boost Global Sentiment?

Euro Financials about to Out-perform Near-Term, Positively Boost Global Sentiment?

The ratio chart below of the DJ Euro Financials vs. the XLF suggests the former could be reaching a support zone whereby they could out-perform the latter, at least in the very near-term. Ostensibly, such out-performance would likely be coupled…...

Member only content: Login to view or Register

Was 2011 the “Real” Top? / The Power of Monetary Stimulus

Can they keep the ball in the air? That’s the question in the back of the head of any bear. Not to be overly dramatic, but nearly every economic and monetary force in the world is aligned against bearish risk…...

Member only content: Login to view or Register

1973/1974 the Closest Parallels to 2012/2013?

Before we can even consider this question one needs to have a heart-to-heart with themselves on one major issue… Do you believe domestic equities are still in a secular bear market? If you do, continue on.  If not, there’s going…...

Member only content: Login to view or Register

Price Action on R2K Suggests Path of Least Resistance Down

Prices are all that matter. And as far as the R2K is concerned, price action in recent history has been anything but bullish. This view is largely expressed through the slope of the index’s 12 month moving average (MA). I…...

Member only content: Login to view or Register

Consolidation Breakdown in the Aussie $ Suggestive of More Risk Asset Downside

Last week the Aussie $ broke down from a multi-month consolidation pattern, the bottom of which was formed by line (1).  After reclaiming the line earlier this week, it has once again broke below such support. Such break-downs from consolidation…...

Member only content: Login to view or Register