GFBP Position Tracker Changes and SP500 Update
Balanced Program
Quick update for our subscriber base, the Global Futures Benchmark Program will move to a Balanced Hedged Short program today as indicated in the following graphic:
A few things that stand out to us are:
The US Treasury will continue to be anchored by ZIRP and thus a preference to be within shorter dated maturities as opposed to the long end, which is much tougher for the Federal Reserve to control. You will hear a lot of “YCC” Yield Curve Control talk but the reality is unless they come out and outright say we are targeting long end and capping interest rates at “X” the free market will continue to prefer the shorter end maturities.
The rally in equities continues and as Barstool Portnoy continues to point it, he can simply use Scrabble as a way of picking stock symbols. He is not an aberration but rather a result of a rigged market defined by globally coordinated Central Banking policy, which and what was clearly evident last night, the only thing dropping the markets is a tape bomb from a govvie official, which was promptly scooped up by the large players. Thus the program will continue to pursue the Tech over everything else as evident with the Nasdaq Index, where the FAAANMs reside.
The Metals are doing what metals should do, discount the monetarists whose only weapon to fight a debt problem, is well, more and more debt.
Ok here is an update to the SP500 which clearly has bulls in control as the EU open this morning promptly broke the 3120 level and the NY session has tested it once here. Only a close below that 3120 on the hourly, would change the bull sentiment here:
Ok Thanks for subscribing we hope that this aids your endeavors and if there is something more we could do, feel free to reach out.
-Magnelibra Econemotions
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