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John Caruso began his career in finance as an Asset Manager for Los Angeles, CA based Wilshire Quinn Capital in 2003. By 2005 John had moved on to the Chicago Board of Trade based brokerage Lind-Waldock. In 2011 John moved to RJO Futures and has been the primary Macro-Strategist for the firm ever since. John’s unique approach to markets focus’ on pairing both macro market trends and fundamentals with his proprietary quantitative market analysis. His primary focus is financial related futures contracts, including Stock Indices, Treasury Bonds, Currencies, and Energy.

March 22, 2021

Market Outlook: Mar. 22, 2021

Coming off of a “correction” week in stocks, we’re seeing a modest bounce back this morning. That’s of course if you want to call -2.0% off of the all-time high a correction.

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March 9, 2021

Market Outlook: Mar. 9, 2021

Wash DC Stimulus efforts look to be nearly complete. NASDAQ remains in the “red” ytd -2.3%, as the re-open stocks gain aka the small caps gain capture the rotation in markets

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March 4, 2021

Market Outlook: Mar. 4, 2021

While vol tends to sneak up on most, I can’t say that we weren’t ready for it. Something to consider in regards to commodities, is China looks to be moving into a Scenario 3 set-up.

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March 3, 2021

Market Outlook: Mar. 3, 2021

Following a bounce to “lower highs” overnight in stocks, we’re right back down where we closed yesterday. US ADP Employment was released this morning printing 117K vs 200K exp private payrolls released.

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February 23, 2021

Market Outlook: Feb. 23, 2021

SPY -2.5% correction off the top, NQ -6.8% from peak to trough this morning, and the Russell 2000 -4% off the top. Here’s some perspective, The SPY is +82%, NQ +109%, RTY +144% on a y/y basis. So today is not the day to hem and haw over a correction.

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February 16, 2021

Market Outlook: Feb. 16, 2021

Gold is struggling, Silver, Copper and Platinum aka semiconductor metals are killing it this morning – remember, Gold is a currency and vastly underperforms in Scenario 2. Not to say that we won’t come back to Gold at a later time, just not at the moment.

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February 9, 2021

Market Outlook: Feb. 9, 2021

The steepening of the yield curve (2s/10s) has officially gone mainstream. Same thing, not a bad idea to curtail that position (but leave the core short), so we can reallocate from more advantageous prices.

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January 8, 2021

Market Outlook: Jan. 8, 2021

Growth accelerating/inflation accelerating through the first half of 2021 as y/y comps of macro data and corporate earnings and profits may perhaps express the greatest rate of change acceleration since post WW2.

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December 7, 2020

Market Outlook: Dec. 7, 2020

Running back last week, it was a great week to be long of inflation related assets. Particularly Oil +1.6% (+17% m/m), Copper +3.1% (+15% m/m), and Platinum +2.9% taking its monthly gains to +10.4%.

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December 3, 2020

Market Outlook: Dec. 3, 2020

The USD is now entering perhaps a “crash” phase. -10% since June, you can clearly overlap a chart of the Fed’s balance sheet expansion and the US Dollar Index from June to present and see it “gator mouth”.

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