The Heat is On Last week, HAI observed that the S&P 500 had broken below the rising trend channel that defined the rally off December lows. The [...]

Magical Disinflation Theory This week, the S&P 500 broke below its rising trend channel that has defined the rally off of December lows. The [...]

Inflationary Fire or Recessionary Ice This week was relatively calm for markets and uneventful on the economic data calendar. These were welcome and [...]

Seeing Through the Fog of War HAI has long viewed the outbreak of consumer price inflation to 40-year highs as a consequential game changer for the [...]

The Next FOMC Meeting Could Be Historic This week, HAI is being composed in the skies high above America—regrettably, in a plane with no Wi-Fi. A [...]

Commodity Bull – Now or Later? This week, major market indexes were mixed. The Dow Jones Industrials dramatically underperformed, the S&P 500 [...]

A Perilous Path It may not be the return of the “everything bubble” just yet, but the “everything rally” has certainly taken hold of both [...]

Signs: What’s Here Today and What’s Coming Tomorrow Stock markets started 2023 under pressure, but finished the new year’s first trading week [...]

Unfinished Business from 2022 Happy New Year to our MWM clients and all HAI readers! With holiday festivities ongoing, HAI will merely offer some [...]

Merry Christmas! Merry Christmas to our MWM clients and all HAI readers. With holiday festivities fully ramped-up, HAI will just offer prices for [...]

Anatomy of a Yard Sale This Friday was a festive one at the McAlvany offices in Durango. A holiday decorating competition inspired impressive efforts [...]

An Object in Motion In a week light on macroeconomic data and void of any Fed speakers, markets still adopted a decidedly defensive posture. The [...]