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Tom McClellan observes that current bond market behavior is reflecting patterns seen in gold prices approximately 20 and a half months earlier.
He highlights the longstanding relationship between gold and bonds as a leading indicator for market trends.
McClellan has recently pointed out that fewer Nasdaq 100 stocks are trading above their 100-day moving averages, suggesting reduced participation in that rally. He also noted that NDX stocks are averaging a 19.5 percent drawdown, consistent with typical 30-year patterns. These observations follow his ongoing focus on historical relationships and market indicators.