The markets have begun to turn.
Sure… the broad indexes like the Dow and the S&P 500 are holding up…but beneath this surface, BAD stuff is brewing.
Copper, which lead stocks to the upside during this latest rally, has already TOPPED and is now correcting.
This is a key “tell” and it’s telling us… point blank, that the “growth” trade that hit post November 8th is out of steam.
We get additional indicators from the inflation trade (TIPS/ Long-Term Treasury ratio) which peaked December 12 and is now on the cusp of taking out its trendline.
Stocks are on borrowed time. How far will they fall? We believe it will be at least 9%.
THIS WILL HIT BEFORE THE END OF JANUARY.
Another Crisis is brewing… the time to prepare is now.
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Chief Market Strategist
Phoenix Capital Research