MARKET TIMING SINCE 1969

• The EUR/USD exchange rates may have plugged a secular low in March on our long term bi-monthly graph. At least, the configuration suggests a continuation of the current bounce into early next year. These dynamics are similar to other anti-USD trades such as cyclical assets, Commodities or Emerging Markets.

• Shorter term, we expect further upside into la...

• Gold probably remains uptrending until late Q3 at least, and most likely into Spring next year. Our upside targets suggest that it could reach up towards 2’200 USD/oz by then.

• This uptrend could be quite linear as the triggers for a large correction are probably absent for now: 1. the US Dollar probably continues to weaken,

2. Interest rates probably re...

• Over the next week of so, the S&P500 and the Eurostoxx 50 Indexes could start to resume their uptrend, probably into mid/ late Summer and towards their February highs.

• In the initial stages of this new leg up, Cyclical assets, such as US Small Caps could outperform, probably into early/mid ...    Read full Analysis

Last month, we wrote that the worse may be behind us for equity markets. We did expect some downside retesting early April (which was rather tamed) and then a bounce towards 2870 into late April/early May, which has now been reached. What’s next?....

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Since the third week of March (early in the 4th week in the US), Equity markets and more generally risk assets have started to bounce. This rally (“Bear market rally”?) has been...

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Talk about a “Black Swan!”, the Coronavirus certainly qualifies. Risk assets have sold-off so quickly that the whole rally...

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The Coronavirus comes as a typical Black Swan in an environment where equity markets had been riding the liquidity wave and are now Overbought. Overall, we remain....

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Given the massive amount of liquidity currently being injected by the FED, the US Dollar has continued....

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During October, following a Summer of high level consolidation, Equity markets broke out to the upside once again. Since April, they had been....

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The last 12 months have seen an aggressive rally on defensive assets, fueled by many geopolitical risks (Trade War, Iran, US Impeachment attempts, Brexit, …) as well as....

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