The inflection point SS has been forecasting since the beginning of 2021 is at hand.
Recall that SS is never exactly right, and that even when it’s working well it doesn’t hit the bull’s eye. We’re glad to just hit the target. That said, the approaching time frame – the beginning of 2022 Q4 – has been in its cross hairs for several quarters. It’s been fascinating to watch as a narrative has fallen into place, piece by piece, consistent with SS projections made well before such developments were even on the horizon.
SS thinks Bills have a few more weeks of strength, and by extension, the USD, and that Bonds are near a bottom in the vicinity of October first. It foresees the bear market in Stocks gathering steam, as equities finally decouple from bonds. The Copper plot suggests further declines in commodity prices. It pegs the nadir of the current Gold downdraft around November eighth.