Japan Chart Dump

Japan Chart Dump

I continue to believe, as crazy as it sounds, that the Nikkei might round-trip its 30-yr decline from 40K in 1989 by getting back to that level either this or next year. I’ve outlined the case for this scenario two…

Long Rates, Short Equities?

Long Rates, Short Equities?

One of the worst patterns one can ever find is the kind seen on the USD in the late 90s… Three distinct pushes higher over the course of a few years with declining RSI into a H&S type of top…...

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Additional Evidence Suggesting a Historic Top in Place for Defense Stocks

Additional Evidence Suggesting a Historic Top in Place for Defense Stocks

In March I began making the case that defense stocks were in the process of putting an important top in place, which you can read about here. However, at that time I don’t think I fully appreciated the exact nature…...

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Chart Dump

Chart Dump

Lots to look at here.  I’m by no means advocating positions in all of these, I just find the charts interesting.  That said, there are many I would want to own.  Some are far more speculative and less liquid than…

Multi-Year Cyclical Peak for EM Equities Likely in Place

Multi-Year Cyclical Peak for EM Equities Likely in Place

Before we dig into this post’s declarative title, let’s revisit the genesis EM work that got us to this point today. Specifically, I mean the 1/2/17 post that proclaimed EM equities, though likely mired in an ongoing secular bear, were nonetheless about…...

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Growing Dossier of Bullish Silver Analytics

Growing Dossier of Bullish Silver Analytics

In recent weeks I’ve begun to note the historically tight hi/lo price ranges within the PM complex, first noting both gold and silver’s compressed 48-mo ranges here, and then silver’s 12 mo range here. Historically speaking, such compression has been indicative…...

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Oilfield Services Attractive on Numerous Relative Fronts

Oilfield Services Attractive on Numerous Relative Fronts

One could spend a few hours cycling through charts of various US equity industries, both on an absolute and relative basis vs. the SPX, and find very little to get excited about. They simply all look the same – nearly…...

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Pinpointing a Bottom in Bitcoin

Pinpointing a Bottom in Bitcoin

With my oft-repeated suggestion that XBT will reach $1 million in 2018 looking more comical by the day, I thought it appropriate to revisit the asset with a focus not on trying to predict upside, but on attempting to pinpoint a near-term…...

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GE Approaching 50-Yr Relative Support

GE Approaching 50-Yr Relative Support

In the chart below the ratio of GE vs. the SPX is approaching 50-yr support dating back to 1970. Historically, this support has helped launch major relative rallies in the stock vs. the broader market. On its own, GE is…...

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PM VOL Compression

PM VOL Compression

Below I plot gold and the spread b/t its 48 month high-low price range, which now stands at < 22%. Note that historically such a low spread is quite uncommon. In fact, there are only three other environments  in which…...

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