Technical analyst Michael Oliver, founder and chief analyst of Momentum Structural Analysis, joins host Andy Millette on Natural Resource Stocks to walk through the charts he thinks matter most right now and why the next big move in markets is already underway. Using his proprietary momentum work, Michael argues that gold has just broken out of an eleven-year base versus the S&P 500 and that the money flow into monetary metals is only just beginning, not ending.
Michael explains why every major stock market bear of the last fifty years saw money migrate into gold, why the classic 60/40 portfolio is breaking down as Treasury bond futures threaten a disorderly drop, and why the relative strength of gold, silver, and the miners versus the S&P is an early warning siren for equity investors. He makes the case that investors who still treat gold as an “old friend” are missing the point that a new regime has already started.
From there, the conversation widens into the broader commodity complex. Michael walks through his momentum work on the Bloomberg Commodity Index, arguing that commodities are vastly underpriced as an asset class and have just broken out of a multi-year base, with energy, base metals, grains, and fertilizer all poised to benefit from the shift out of expensive paper assets. He then drills into crude oil and natural gas, outlining the quarterly and three-year momentum structures he believes will drive the next legs higher once key trigger levels are convincingly cleared.
If you want a momentum-driven framework for thinking about gold, silver, miners, commodities, and the bond market over the coming years, this discussion is for you and the wider #Millettian community following Natural Resource Stocks. The focus is on big structures rather than short-term trading noise so you can decide whether your own portfolio still assumes that the stock market and Treasuries will always bail each other out.
Disclosure
The opinions expressed are solely those of Michael Oliver and do not necessarily reflect those of Natural Resource Stocks.
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