Summary
Akhil Patel reports from Perth after completing Gann classes. Markets have been bullish across the board: US, Australia, France, Germany at all-time highs; Japan at 33-year highs. US homebuilder stocks (XHB ETF) are on a tear. The Fed did not cut rates in January, yet markets continued up. This is interpreted as the entry into the Mania/Winner’s Curse phase. UK markets show cyclical patterns despite domestic pessimism.
Key Claims
- All major global markets are at or near all-time highs as of February 2024. — confidence: high
- Japan’s market is at levels not seen in 33 years, approaching all-time highs. — confidence: high
- US homebuilder stocks (XHB) are surging — exactly expected at this cycle stage. — confidence: high
- The Mania/Winner’s Curse phase of the cycle has begun. — confidence: high
- Fed not cutting rates in January 2024 did not derail the bull market. — confidence: high
- Gann classes held successfully in Perth, Melbourne February 2024. — confidence: high