Weekend Jan 16, 2022
Evidence accumulates that major stock indexes have finally topped out.
Transports
Transports lead and the spike in early November looks terminal.
NASD 100
this has been the hottest index and looks to be cooling as well.
Small Caps
Notice the same pattern is repeating across the different markets.
The NYSE is the last to top.
Markets do not top all at once, topping in different time frames allows the talking heads on cable business to continue pointing to new highs making it appear that the bull is still in force.
30 Year Bond Yield
30 Year Bond Yield
Everyone from Jerome Powell to the experts at Goldman is being too naive about the rise in bond yield. Here the long bond jumped from 1.7 to 2.1 in just over a month, higher rates are here.
GSG Goldman Commodity Fund
GSG is more than half weighted to energy prices which are making new highs so no surprise this one is making a new high.
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