Todd Sohn is one of my favorite guys to talk to about the markets. He often sends me charts that no one else is looking at and points out important data that most people aren't talking about. His unique perspective on the market definitely makes him stand out from the rest. Todd and his team at Strategas do great work and it's a real pleasure to have him on the podcast. In this conversation we discuss the current environment for US Stocks, Interest Rates, Precious Metals and the sentiment driving current trends. He offers good advice for both new technicians and seasoned veterans. If you're at all interested in the market, this is an episode you can't miss. Enjoy!
There's a lot going on in the world right now, and India specifically, but one positive to come out of all this mess is we may be seeing a more clear trend develop in USD/INR.
In this Episode of Allstarcharts Weekly, Steve and I talk about the recent strength in Gold, even in the face of a Dollar that has yet to start falling. After Thursday and Friday's turn around, I think it's finally time for the Dollar to weaken. The way I see it, the relative strength we've seen in Gold was a heads up that the Dollar is set to fall. The correlation between Japanese Yen and Gold Miners on a relative basis is the intermarket relationship that stands out the most.
Wednesday morning I outlined the charts we were watching ahead of the Fed Decision and what we would need to see before getting out of the way and reevaluating our bullish Equities and US Interest Rates thesis.
Today I want to look at those same charts and note what's changed and how we're moving forward.
As part of our Institutional Top 10 Charts report on February 21st, we wrote about why Litecoin was leading the Cryptocurrency regime change.
Several weeks later on April 3rd, we followed-up on that call by noting the improving price action of Bitcoin and Ethereum and suggesting a long-term bottom was likely in for the Crypto space.
Today we're updating our outlook for global markets and providing ideas to profit in the second half of 2019.
Part 1 of this playbook will provide our perspective on all four asset classes and update our views on the major themes within India that we're paying attention to.