Sight Beyond Sight® is a global macro trading newsletter written daily by Neil Azous. With over two decades of institutional experience across asset classes, Neil interprets the day-to-day economic, policy, strategy, and technical developments and provides actionable trading ideas for investors. We invite clients of Interactive Brokers to sign up for a free trial in Client Portal. If you are not a client of IB, you can sign up for a free trial by visiting our website.
The Visible Hand
Two Value Opportunities: Palladium & Utilities
NASDAQ-100 Index (NDX) Is Not Overbought
The S&P 500 “Broken W” Path Out of Recession
The Consensus Path for S&P 500 is a “Broken W”
Why The Two Largest Equity Buyers of “Buy-the-Dip” Are Now Absent
The resulting collapse in US Treasury yields is spectacular on any measure. We believe investors have not had time to absorb that this is the death of one of the most popular carry trades globally.
Like The Coronavirus, The Stock Market Correction Is A New Strain
Our working framework for S&P 500 corrections is explained. Firstly, we integrate moving averages into the framework. We view: The 200-day moving average (DMAVG) as a short-term trend change; The 55-week moving average (WMAVG) as a medium-term trend change;The 200-week moving average (WMAVG) as a cycle change.
Federal Reserve Probability Update
Copper/Gold Ratio Signalling Power
S&P 500 – The 2013 vs. 2019 Comparison
The Case for Short USD/MXN
The Case for US Dollar Weakness
US Equities – Bull vs. Bear Arguments
What Do Gold, USD/BRL and XBI Have in Common?
Central Banks & REIT’s
Swedish Krona (SEK) Set to Weaken
Investors are becoming increasingly concerned that the Riksbank, the oldest central bank in the world, is behind the curve. Specifically, a consensus is forming that the Riksbank is too sanguine regarding growth, employment, inflation, and inflation expectations.Over the past year, Sweden’s unemployment has risen by more than 1% and from its trough has risen 1.4%.