Hello again! And all the best to you for 2016. Markets moving closer to validation: the completion of a major top in equities, and the resurgence of gold. It has been a long and difficult 2 year major topping process in the stock market, but a topping process it indeed appears to have been. Here are the updated charts.

OK, I have decided to revamp the site with a focus on the longer term and big global macro, as that is my ‘USP’. So be aware you might visit and see some construction work in progress. It will mean less frequent posts as the big picture doesn’t move so fast, but that suits me, and hopefully you will approve of the changes.

Charts Source: Stockcharts; Picture Source: National Geographic