Eventually the effects will be felt in the states given Canada being the biggest buyer of US goods and Canadians frequent travel to US before Trump took office. More countries now will diversify trade and become less reliant on US. Most of news has been China, but my opinion, Canada is the biggest.

As someone who’s been following Canada news closely due to quite a bit of family in Ontario, Carney and government have been saying for months they want to take on the role of being a reliable trading partner, get closer to Europe and expand trade in Asia. Also Canadians boycotting trips to US.

Thanks for your input/thoughts. Appreciate your work. Justin Mamis, Stan Weinstein & Marty Zweig are some of my favorite technicians I’ve read & studied so it’s neat to follow someone with a similar lens & thought process that is on social platform.

I found it interesting that once it broke the 100 week MA during Dotcom bubble, GFC and pre-COVID, significant drawdowns occurred. Certainly doesn’t have to similar playbook, but found it to be interesting nonetheless.

Helene - Passing this chart along and thought you’d find interesting/appreciate. A 100 week MA of 3 month T-Bills/BofA High Yield. Notice where we are now compared to the past and the equity drawdowns during those time periods?

It will be an interesting few weeks to say the least. Folks are levered to the gills based on this 5 week equity put/call ratio I follow and today’s data not yet baked in.

In the “period” field, I have it as weekly as opposed to daily. You’re correct that they don’t look similar as I tested it just short while ago to compare. I follow a 5 day equity put/call for short term and a 5 week equity put/call for longer term.

I’m of the belief that at minimum we will retest the 4850 low. I keep hearing bearish sentiment, but this 5 week chart of equity put/call ratio is in “risk” territory. Also think if get 20 or below on NAAIM will get people to throw in the towel. On a separate note, love following your posts, Helene.