In my latest interview on Milk Street Macro with John Gillen, I walked by what I imagine is an important transition going down within the markets proper now. Whereas the S&P 500 continues to be technically in an uptrend, the character of the transfer is altering. Momentum is fading, the Nasdaq has begun carving out decrease highs and decrease lows within the brief time period, and the Magnificent Seven are not appearing as management shares. When management begins to roll over, broader indexes typically comply with. That’s how late-cycle distribution phases sometimes unfold: they seem robust on the floor whereas inside weaknesses quietly construct beneath the floor.
I additionally mentioned what I name the “ocean tide” rationale, specializing in catching the center, safer part of a transfer fairly than attempting to foretell tops or bottoms. We lined the psychology behind mass promote orders, how entire numbers like $50 in silver can act as magnets, and why blow-off tops in metals typically result in sharp actuality checks. I defined why I’m at present holding roughly 66% money, not as a prediction, however as a danger administration stance throughout what may evolve right into a Stage 4 monetary reset. We mentioned the hidden dangers of diversification, how dividend shares can panic collectively, and why 2026 and 2027 could possibly be harder years forward.
In unsure occasions, the aim will not be pleasure; it’s survival and regular progress. The technique could seem boring, however traditionally, disciplined capital safety and pattern alignment have outperformed emotional decision-making over full market cycles.
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The subjects John and I mentioned embody:
- 00:00 – Intro
- 01:45 – S&P 500: Chasing 7000 or a Entice?
- 03:42 – The “Ocean Tide” Rationale
- 04:32 – Catching the Center Protected Part
- 06:07 – Nasdaq’s brief time period Downtrend
- 08:16 – Magnificent Seven: From Glow to Drag
- 09:38 – The Mass Psychology of Promote Orders
- 10:53 – Market Patterns: Is April Repeating?
- 12:46 – A Dystopian Head-and-Shoulders Sample
- 14:16 – Stage 4: Defining the Monetary Reset
- 16:04 – Diversification’s Hidden Ticking Time Bombs
- 18:11 – Why Dividend Shares Panic Collectively
- 19:58 – Gold’s Combined Alerts
- 22:29 – Sponsor: Bridge
- 23:03 – Sponsor: Summ
- 23:54 – Silver’s Blow-Off High Actuality
- 26:11 – Entire Numbers: the $50 Silver Magnet
- 27:49 – Clearing Out Bodily Steel Positions
- 29:50 – Copper’s Bearish Quantity Spike
- 31:46 – Chris’ Fairness Publicity: Why He’s 66% Money
- 33:20 – 2026/27: the Tough Years Forward
- 35:15 – Bonds and the Greenback’s Survival Play
- 36:43 – Browsing the Market’s Annual Waves
- 38:18 – Can the Fed Maintain Up the World?
- 40:22 – the “Boring” Technique to Beat Volatility
- 43:24 – Chris’ Essential Recommendation: Understanding Your Sport
- 45:40 – Wrap-Up
Chris Vermeulen
Chief Funding Officer
TheTechnicalTraders.com
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