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Bob Elliott, co-founder and CIO at Unlimited, highlights the fragile state of the current equity mania. Elliott points to a combination of speculative investor exhaustion, elevated expectations, and tightening financial conditions as key factors driving weaker price action. He warns that renewed war could further exacerbate market instability.
Elliott recently cited reduced central bank gold buying as a factor behind softer conditions in the gold market. He has also observed that the Japanese yen could be set for a reversal as short positions remain crowded. His recent commentary reflects ongoing monitoring of shifting drivers across asset classes.