Tweets ≠ advice. Analyst since 1998. Monitoring charts for macro trends, changes, extremes and THEMES: 2025: Precious Metals, Int'l 2026: Commod, Energy

Joined November 2012
Caterpillar - $CAT Leading indicator for global economic growth, commodity and mining cycles. 🥸
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Bonds - $TLT Ripping higher today. 📈
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Gold / S&P 500 Big Picture at an interesting juncture. 🍿
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China Tech - $CQQQ Tech selloff in China appears to be picking up steam.
China Tech - $CQQQ Down 28%+ since June 30.
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Discretionary / Staples - $XLY $XLP This ratio continues to be stuck in reverse. If you are bullish, be cautious.
Discretionary / Staples - $XLY $XLP Downside momentum continues... Weekly momentum is having a 2nd consecutive negative divergence. This is a stronger signal than a single negative divergence. If you are bullish on equities, be very careful here.
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Performance YTD Commodities continues to hold the top spot. $PDBC
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RATIO: Bear + Money Market Assets / Bull Assets Here is an inverted chart to show just how bullish the dumb money is compared to 2009-2011 levels. The complacency picture has flip flopped. Anyone's guess if this 5% level can go any lower, but it is getting very stretched.
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Offense vs Defense - $SPY $QQQ The past 7 days clearly show defense. Momentum has begun to roll over on 5 different relative viewpoints. Negative divergences abound.
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A lot has happened this week. Be sure to catch up on the best charts at The Chart Report and The Morning Print this weekend! If you have not already, favorite the following link to see all of the best charts curated daily: thechartreport.com/ @TheChartReport
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YTD Performance Energy and Commodities are on top by a wide margin. $XLE $PDBC
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S&P 500 - $SPY Updated chart... be careful out there... 👇
S&P 500 - $SPY Is this time going to be different?
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Mag 7 - $MAGS A bearish wedge inside a bearish wedge with 2 years of negative divergence.
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Commodities - $PDBC The volume is still well below what we saw in 2022. That continues to suggest this move still has a ways before it matures.
Commodities - $PDBC The volume this week is so far away from the high volume we saw in 2022. That suggests this move still has a long ways before it matures.
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China Tech - $CQQQ Down 28%+ since June 30.
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Cybersecurity - $CIBR Having its worst week since the 2020 lows.
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Discretionary / Staples - $XLY $XLP Downside momentum continues... Weekly momentum is having a 2nd consecutive negative divergence. This is a stronger signal than a single negative divergence. If you are bullish on equities, be very careful here.
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Discretionary / Staples - $XLY $XLP Weekly momentum is having a 2nd consecutive negative divergence. This is a stronger signal than a single negative divergence. If you are bullish on equities, be very careful here.
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BREAKING: South Korea’s KOSPI falls another -7% as tech stocks drop sharply. The KOSPI is now down -40% from its record high seen on June 19th.
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466,680
We are getting close to 2008 levels.
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Silver - $SLV Big Picture Weekly
Silver - $SLV Big Picture Weekly
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