Lee AdlerBullish indications mean that we must assume that the bulls remain in control until proven otherwise, regardless of the bearish liquidity forces (See latest Liquidity…
Back in December I had no idea that a pandemic was coming. I had no idea that COVID19 would cause Treasury supply to increase 10x.…
We knew this was coming. $265 billion in MBS settlements for May are almost done. Now we reap the whirlwind. Here’s what to expect and…
Gold is consolidating. Here’s what to look for to signal that it’s something worse.
The market has now been rangebound for 5 weeks, leaving the cycle picture muddled. Wave amplitude remains relatively high, while frequency has increased. If the…
Treasury issuance has caught up with QE. There are no more excess funds lying around for dealers to use to mark up stock and bond…
In normal times, the Federal Government has a revenue windfall in April, and runs a large surplus for the month. Revenues are typically at least…
Gold is consolidating. Here’s what to look for to signal that it’s something worse.
Stocks are selling off this morning but the trend still favors the bulls. Here are the parameters to watch that would confirm, or signal a…
Macro liquidity has slowed slightly in recent weeks as the Fed has taken its foot off the accelerator. But it continues to grow at an…
The Fed has cut back its POMO purchases to an average of $8 billion per day of Treasuries and $6 billion of MBS this week.…
Gold is consolidating. The uptrend will be safe as long as a key support level holds. This report looks at where to start worrying, and where the upside targets are if all goes well.