For the record – this is how the November bottom looked like in my systems: • Core Models were at/more extreme than the OCT 2022 low. • At the time, was leaning towards a seasonal year-end rally. *This recovery has far exceeded my expectations (to say the least). Thoughts on what may be ahead: • Beginning to look like a classic late-cycle Bull market extension. • When the Fed paused last cycle, S&P gained +30% the next YEAR with little pullback. • Critical driver is leadership change – if this continues, big potential ahead. • Leadership: Smallcaps, China Tech/EM, Gold Miners, Rate-Sensitives, Anti-USD trades (areas nobody wanted all year). • Have to watch closely: at what point Mag7 becomes a problem? (very crowded – will 2024 be the inevitable unwind?). • Stay open minded – impossible things happen regularly in this business. Will be back soon & hopefully more active here next year. Good luck out there – and Happy Holidays.
@MacroCharts Great to see you back after a long absence! Happy when my notis pinged and I saw your name. Just one question ... the 'melt up' thing is kind of everywhere on fintwit. Is that not a warning?
@MacroCharts Following capitulation, nice to see several breadth thrusts. Yesterday's NYSE A/D ratio was also the best since the October '22 low. x.com/MosaicAssetCo/…
@MacroCharts Following capitulation, nice to see several breadth thrusts. Yesterday's NYSE A/D ratio was also the best since the October '22 low. x.com/MosaicAssetCo/…
@MacroCharts Indicator would look better if you inverted the scaling.
@MacroCharts Excellent and unbiased. Always appreciate when you weigh in.
@MacroCharts Love your work mate, great stuff 👍
@MacroCharts Largely aligned with my thoughts also. Thanks for the update. Hope all is well.