What the Talking
Headge Said.

$IWM closed at an all-time high alongside the Value Line Small Cap index, underscoring strength across two differently constructed small-cap benchmarks.

Bitcoin could rise alongside gold if gold builds momentum, although a new catalyst is needed for Bitcoin to lead independently.

$MAGS has recovered nicely after reaching the Leopold-low anchor and could begin moving higher next week after rebounding from its five-day average.

Stocks remain in a secular bull market that could plausibly last until 2035, although the duration remains uncertain and investors should expect meaningful drawdowns.

CPI rose just 0.1% for the month, reinforcing the case against another Fed rate hike and favoring an easier policy path.

Dollar liquidity shortages force vulnerable economies into depreciating local currencies, creating inflation spirals; a long-standing position rather than a fresh call.

Construction employment is likely to weaken because building permits signal future labor demand across residential and commercial construction activity.

Oil faces near-term supply disruption after tanker traffic through the Strait of Hormuz fell from 71 vessels last year to four on August 13.

Oil demand faces near-term pressure as China halves imports by drawing stockpiles, throttling refineries, cutting consumption, and substituting coal, though those measures have limits.

Inflation needs to average 0% for 65 months to offset the past 65 months’ 4% average and restore the Fed’s 2% target.