Investors are shunning Defensive Stocks

>> reminder to check your allocations!

Also think about non-standard hedges and diversifiers

ALSO, think, what does this chart mean for the market outlook?

Our thoughts: entrylevel.topdowncharts.com/p/12-charts-to…

Weekly report (govt bonds + commodities focus): topdowncharts.pro/p/weekly-macro…

Tech is Priced for Perfection

Which is ok if you get perfection

...inconvenient though if you get anything less

What we are watching: entrylevel.topdowncharts.com/p/12-charts-to…

(do not hold risk into this weekend)

My take: given the flurry of diplomatic activity over the past week, if Iran does ultimately directly attack Israel then it's war.

(albeit, alternate would be they do something smallish/avoid retaliation, or do nothing substantive)

Interesting label, Interesting flavor

oops, should have added it to this fred twitter.com/Callum_Thomas/…

Gold volatility has ticked up, but no where near previous extremes --> Room To Run

The time to fade the breakaway in gold or get cautious is when volatility spikes (which indicates exhaustion of the move (basically fear and/or greed expressed in the options market)) -- not yet.…

HFL

Capex going Crazy?

Yep: entrylevel.topdowncharts.com/p/chart-of-the…

Stocks are expensive, Bonds are cheap

Long-term investors: you know what to do...

Short-term?

It's complicated: entrylevel.topdowncharts.com/p/12-charts-to…

Commodity currencies don't seem to commodity currency these days...

(before the storm)

Reminder to check out the Chart Storm + some very good follows here 👀👀👀👇

The US jobs market is still running HOT 🔥

BUT, things can change quickly...

What to watch: entrylevel.topdowncharts.com/p/12-charts-to…

Chart of the Week - Base Metal Rising

Industrial metals are at the center of the macro world and face several key crosscurrents --> there are clear opportunities in Metals, but also important implications across assets...

Will the Fed 'slash rates by 50bps in June' ?

VALUATIONS: 'just Buy Low and Sell High'

Simple concept, but simple doesn't mean easy...

Here's how to think about valuations *through the cycle*

Key article: entrylevel.topdowncharts.com/p/using-valuat…

Reminder to check out the Chart Storm + some very good follows here 👀👀👀👇