Posted by BL (99..201.63) on February 21, 2023 at 23:05:48:
BOTTOM LINE
The strong breadth numbers in January
convinced a lot of analysts that a new bull
market is starting, but not us. Our monetary leading indications still say trouble is
with us all the way to early October.
There will be “trading” opportunities, but
just not “investing” ones. One tradeable
bottom is due Mar. 9-14. Another is due
the first week of April. Bond prices have
gotten oversold now, deserving at least a
rest break. Gold’s leading indication for
bond yields agrees on a yield top (price
bottom) now, but it has been acting less
reliably over the past year. Other long
term models for yields like global average
temperatures say that this summer should
be the top for yields. Gold has also gotten
oversold, deserving a res