Essentially Broken This week, the regional banking crisis in the US took a back seat to emerging troubles at major European banks. Adding to the existing [...]

The Ides of March In Shakespeare’s Julius Caesar, the seer warned, “beware the ides of March.” Well, it may not be Shakespeare, and it certainly isn’t [...]

Precious Metals at a Crucial Macro Moment This week, BNP Paribas Senior US Economist Yelena Shulyatyeva told Bloomberg, “At this point, it’s clear. We [...]

Moment of Truth Over the past two weeks, HAI has highlighted the incredibly important technical support zone between 3,900 and 4,000 on the S&P 500. This [...]

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 implication [...]

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 channel trend [...]

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

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 economy and [...]

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 popular [...]

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

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 markets and [...]

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 on a strong [...]

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

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

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