From the Desk of Ian Culley @IanCulley

The commodity supercycle will not be televised.

Jim Cramer will not provide commentary on cotton, cattle, and/or the crack spread.

Hollywood will not make a movie on crude oil...

From the Desk of Ian Culley @IanCulley

Investors are bidding up growth names.

Perhaps it comes as a surprise, given elevated interest rates.

It did catch me off guard, but it hasn’t stopped me from taking advantage of...

A healthy rotation is underway across equity markets.

Leadership has swung toward cyclical value-oriented names over the trailing two weeks. Small-cap Energy, Materials, and Financials are outpacing the year-to-date top performers (Large-cap...

From the Desk of Ian Culley @IanCulley

Forget about Wednesday’s FOMC decision.

Yes, investors continue to react, unpacking Jerome Powell’s words while looking ahead to next month’s meeting. It’s a never-ending cycle proffered by...

From the Desk of Ian Culley @IanCulley

Markets are bracing for tomorrow’s FOMC decision – including the dollar.

That’s right – we have more indecisive action on tap. Let’s call it the knee-jerk before the knee-jerk, with a...

From the Desk of Ian Culley @IanCulley

International credit spreads are contracting.

Investors are running from imminent global collapse by reaching for emerging market bonds over risk-free US Treasuries. 

Wait, perhaps...

From the Desk of Ian Culley @IanCulley

Petrocurrencies and crude oil futures are diverging.

The currencies that benefit most from higher oil prices refuse to roll with crude’s steady decline. 

Perhaps it’s more about the...

From the Desk of Ian Culley @IanCulley

Commodities are on the rocks.

Our Equal-Weight 33 Commodity Index is printing fresh two-year lows. Crude oil is hanging around the lower bounds of a multi-month consolidation. And Dr....

From the Desk of Ian Culley @IanCulley

US interest rates have churned within a tight range for months. 

Remember: Sideways is a trend. 

While...

From the Desk of Ian Culley @IanCulley

"Buy stocks if the US Dollar Index $DXY trades below 105!"

Simple and straightforward. That was our...

From the Desk of Ian Culley @IanCulley

Former resistance turns into potential support – and vice versa.

That’s Polarity 101. It’s a...

From the Desk of Ian Culley @IanCulley

"You can’t pay me enough to buy US Treasuries."

That’s the message from the bond market.

The result: a persistent rise in interest rates.

Classic intermarket ratios – copper...

From the Desk of Ian Culley @IanCulley

Here we go again… 

The USD/JPY is breaking out.

I can’t think of a stronger trend than the...

From the Desk of Ian Culley @IanCulley

Watch out for cotton!

Back in February, I highlighted a bullish setup in cotton futures. 

Buyers were...

From the Desk of Ian Culley @IanCulley

Tech stocks don’t care about the manufactured debt limit crisis. Nor are they bothered by the...

From the Desk of Ian Culley @IanCulley

Dollar up… 

Everything else? 

Down.

Last Friday’s action sent flashbacks of 2022 across my screen.

It was all King Dollar last week as risk assets and bonds...

From the Desk of Ian Culley @IanCulley

Dr. Copper is limping into the close – on pace for its worst week since last November.

The...

From the Desk of Ian Culley @IanCulley

Dollar bulls hold the line.

The US Dollar Index $DXY is clinging to the 100 level, refusing to let go despite new 52-week highs for the British pound and a steady rise in the...