Charts that matter.

Dollar is rallying hard, (USDJPY > 158)

Yields are rallying, (10yr yield at 4.63%)

Equal weight S&P just hit 2009 GFC lows. This will continue.

Inflation will stick around.

STAY AWAY FROM SaaS COMPANIES: SaaS companies are CRUD databases with business logic behind them. Once the AI agent becomes where all the logic goes then most SaaS companies are going to collapse.

• 70% of US consumption is services - only 2 recessions in 75 years (pandemic and GFC) no recession in sight.

• Rick Reider and Stanley Druckenmiller are concerned about failed long-end auctions causing panic in the market.

• BINC - best performing active ETF this year (fixed income)

Equal-weighted S&P is never a spot to be. In equities its megatech or nothing.

READ ON