Last week's update was focused on a stronger US$, topping equities, whipsawing bonds and caution regarding PM's - so far so good. This week we find out if there is any follow through to Dick Fischer's crazy antics. The US$ rallied and the bond yields spiked higher and while we saw a number of key […]

Equity markets pulled back last week after Monday's new ATH's. There are enough waves in place to complete the impulsive rally since the June lows. While there are no clear signs of a reversal as yet, the recent trend is either exhausted or exhausting. Risk is to the downside. The US$ found support at my […]

Bonds and the US$ are my primary focus for now as last week provided important near term clues for the bigger picture trades. My next big play is Short Treasuries and Long US$ but patience is required near term (see below). Stay tuned to my mid-week tweets as I update the important structures... Global equity markets continue […]

Equity markets finally continued higher as expected with the SPX and Nasdaq pushing to new cycle highs while the DJIA continues to lag. The US$ and bond yields also reversed higher right on cue. So far so good... The roadmap for the SPX / ES remains unchanged as we push to new ATH's. I continue […]

One of the key tenets of managing OPM is to continually undertake scenario analysis to ensure we don't lost sight of the forest from the trees. Given that the equity bears are finally relenting, I think it is now appropriate to highlight the key bigger picture counts for the markets. The biggest risk for these […]