John… amen! As we say in our work, “the only Fed speaker we listen to is the 2yr Treasury yield.”

We’ve been Gold bulls over recent years, but note the combined extremes of both price and sentiment … nearly 3sigma above trend and a surge in retail flows recently. Favor a consolidation here… Strategas

Missing for weeks was stress in put/call ratios and any evidence of capitulative or indiscriminate selling. Those boxes are now checked. Gold being sold sharply reflects this too. In the final phase of a decline, no place to hide. Probably close here. Strategas

Early hit on CNBC with my good friend Frank Holland this morning. Strategas cnb.cx/4llUPbF

3rd highest $ volume day for $GLD since inception... on a reversal, preceded by very extended conditions and excessive sentiment... longs be careful !!! Strategas

Retweeting on Gold / $GLD ... < $3200 this AM, continue to believe April was a blow-off, expect lower prices Strategas

Fun to join my friend David Keller, CMT on his excellent podcast to talk all things markets and macro. Strategas

This was fun @EismanPlaybook — great to be on your pod and hopefully share some wisdom. Strategas

Back to back accumulation signals for $IWM, Discretionary (equal-weight) to new relative highs, and Bitcoin through $120k... the world still looks OK to us from our perch. Strategas

Tricky when you're in the "for profit" research business Love My 7 Wood :)

Global growth reaccelerating? Discuss among yourselves… Strategas

John - as our mutual friend in Boston would say, "bull markets even bail out bad charts." $IWM

As always, a pleasure to join Carl Quintanilla and Leslie Picker and talk the state of the markets and the macro as September draws to a close. There’s a pulse from Energy, but does it happen at the expense of the Consumer - that’s the big Q for 4Q.

Looking forward to joining always sharp Scott Wapner at 3:00pm sharp to discuss the market and macro landscape into the final few months of the year. Strategas

Great discussion with Jonathan Ferro & annmarie hordern on BSurveillance Friday morning. Segment starts 3 minutes in, and some laughs on a Fed joke at minute 8. Strategas Bloomberg Surveillance 10/3/2025 youtu.be/R_Np2dyCu_c?si… via YouTube

Monster Session AI Trade S&P 500 8,600 Dollar Debasement Gold & BTC Bringing Back Civility Steve Auth Marcus Lemonis Chris Verrone Adam Kobeissi Danielle Shay James E. Demmert R “Ray” Wang 王瑞光 #Cupertino #AI #Energy R.NFT "Making Money with Charles Payne" Fox Business 2 PM Please Tune IN

Worth pointing out from my friend Chris Verrone: "since Liberation Day...the S&P’s +35% advance (+39% if you’re measuring intraday) ranks 4th best since 1950 following at least a -15% drawdown".