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What Does Macro Tides Have To Offer You?

And how can you determine if Macro Tides will fit for your needs? It's easy, read my overview summary.

You'll be able to judge my analysis on monetary policy, inflation outlook as inflation began to soar, and how the Dollar, Stock Market, Treasury yields, and Gold were expected to trade.

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Jim Knows How to Read The Markets

Jim Welsh has accumulated many accolades during his career, including for his prescient analysis of both the 2007-2008 market crash and the 2009 bullish reversal. Very few were able to accomplish this. Read Jim's free report covering his thoughts from those years to get a better sense of his process:

Read Jim's Free Fundamental Recap Report

After the 2008 and 2009 crash I looked for sources who had recommended getting out of the market in 2007 and 2008 but who had then turned bullish in February or March of 2009. While there were lots of people warning of impending doom in 2007 and 2008, they were still warning of impending doom in 2009 and 2010. And while many were bullish in the Spring of 2009, they were bullish all through the crash as well. After my extensive research (I spent well over 150 hours retrieving and reading available publications) I found only three who met my criteria for roughly “getting it right”: Jeffrey Gundlach, Ned Davis, and Jim Welsh. Jim does a great job of blending fundamental and technical analysis and communicating in a way I can understand. He is able to read the Fed minutes and identify gaps between what the Fed is saying and how it is being interpreted by the market.

- Dave B., Independent advisor Large National Wealth Management Firm

Jim Welsh has published a monthly investment letter since 1985 that focuses on Federal Reserve monetary policy, the economy, and the financial markets. He has managed a mutual fund, worked for major wire-houses, and has been widely published in financial media. Jim was Forward Funds' ($5.5 billion) Macro Tactical strategist for a number of years, and provides high quality economic and technical market analysis for advisors and investors as a guide to portfolio allocation and tactical portfolio changes.

Welsh's Macro Tides models identify trend changes in the domestic & international equity markets, fixed income, currency (USD & Euro) and Gold markets. The Macro Tides models place a heavy focus on Monetary Policy, traditional Economic Indicators, including Welsh's proprietary Major Trend Indicator, and selected Sentiment Indicators to create trade recommendations.

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Inflection Points

By the end of July a number of markets were at inflection points. The Dollar was on the cusp of a big rally. Treasury yields were trending higher. The S&P 500 peaked on July 27 and then declined by more than 7%. Gold was in a down trend.

In the July 24 Weekly Technical Review I told subscribers to expect:

  1. A -5% to -7% decline in the S&P 500
  2. A rally of at least 4% in the Dollar
  3. The trend in Treasury yields was up
  4. Gold was expected to drop to $1822

Read the July 24, 2023
Weekly Technical Review

Jim Welsh in the Media

Listen to Jim share his thoughts with podcasts, publications, and media outlets. Gain a better understanding of how he integrates his fundamental and technical analysis, broad experience, and knowledge of the markets into developing valuable Macro Tides newsletters that can provide insight to your decision making.

Watch Jim's Interviews

Global Economic Report

Regulatory Growth Throttle

In coming months the pace and size of rate cuts will be totaling dependent on future economic data. In his post FOMC press conference Chair Powell made this point clearly. “In considering additional adjustments to the target range for the federal funds rate, the...

Technical Review

Powell: Rate Cuts Will Be Measured

Although I was surprised that the FOMC lowered the Funds rate by 0.50% at the September 18 meeting, I didn’t think another 0.50% cut would happen at the November 7 or December 18 meetings as noted in the September 23 WTR. “ The FOMC voted to lower the Funds rate by 0.50% at the September...

Technical Review

Special Update

FOMC – More Now, Less Later

In 1973 Miller Brewing ran its first “ Tastes Great! Less Filling !” commercial, which over time highlighted various sports luminaries and were fun to watch. At the September 18 meeting the FOMC provided their version. The FOMC...

Technical Review

Summary of Economic Projections

William Dudley served as president of the New York Federal Reserve from January 27, 2009 until June 17, 2018. The president of the New York Fed gets to vote at every FOMC meeting while the other 11 district presidents rotate with 4 voting for one year. As such the New York Fed President is...

Technical Review

Economic Slowing Outweighs Rate Cuts

In July the labor market softened notably with job growth falling to 114,000 from 179,000 and the Unemployment Rate jumping from 4.1% to 4.3%. My guess was that the labor market would show some improvement in August as noted last week. “ I think the larger risk is that the Unemployment Rate...

Technical Review

Employment Report on Friday

Chair Powell and members of the FOMC aren’t as unnerved by the increase in the Unemployment Rate from 3.4% in April 2023 to 4.3% in July, since it wasn’t due to a large increase in layoffs. As noted in the August 5 WTR, Chair Powell knows that some of the increase in the Unemployment Rate from...

Global Economic Report

The Path of Monetary Policy

The Path of Monetary Policy

Travel is the embodiment of discretionary spending and it provides a reflection of how people feel about their personal finances and the economy. In 2019 (pink line) 2,500,000 people were traveling leading up...

Technical Review

Chair Powell Confirms the Obvious

Since 1998 the S&P 500 has moved by more than 1.0% in the week after the Jackson Hole speech by the Chair Person of the Federal Reserve. In 2024 the S&P 500 rallied by 1.28% to 5641.82 after Chair Powell’s speech before closing with a gain of 0.96%. The 1.0% move on Friday by the S&...

Technical Review

All Eyes on Jackson Hole

Since 1981 the Federal Reserve of Kansas City has hosted the annual confab for central bankers at Jackson Hole Wyoming. Members of the Federal Reserve will be joined by leaders of the European Central Bank, Bank of England, and Bank of Japan. This year’s topic is “ Reassessing the Effectiveness...

Technical Review

CPI and Yen Watching

In the hours before the stock market opened last Monday (August 5) the S&P 500 futures were down 250 points and there were vocal calls for the FOMC to lower the Funds rate immediately since the ‘sky was falling’. If the FOMC didn’t lower the Funds rate immediately it should lower it by 0.50...

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by WTRooney, Sep 5, 2024 - 3:45pm

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