Bloomberg's Mike McGlone says be careful with the post-midterms rally narrative: crypto, metals, and housing are already rolling over, and an S&P drop could start the reset of a…
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Bloomberg's Mike McGlone says be careful with the post-midterms rally narrative: crypto, metals, and housing are already rolling over, and an S&P drop could start the reset of a lifetime. "When every…
Bloomberg's Mike McGlone says be careful with the post-midterms rally narrative: crypto, metals, and housing are already rolling over, and an S&P drop could start the reset of a lifetime. "When everybody says the same thing for the same narrative, be careful. For instance, this quote that markets always go up after midterms." "The bottom line is, will the S&P 500 be down from where we are now? If it's down, that's the beginning of a potential biggest reset of a lifetime. Just normal reversion. If it's up, I don't really know what to do." "There's so many indications that it will be down first. Crypto's rolling over the 50-week moving average. Bitcoin's heading lower." "We've had a pretty significant peak in precious metals. We've had a significant peak in cryptos, Bitcoin. We all know the housing market's rolling over significantly, certainly with mortgage rates at a 3-decade high." "Energy looks like it's probably just peaked very significantly. Natural gas is a great indication for that. So that's a deflationary force." "That's a pretty severe, but normal post-inflation deflationary cycle."
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