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Patrick Karim, a technical analyst at Technical Traders Ltd, outlined what he described as his four 'horsemen of the apocalypse' for the U.S. business cycle. Karim pointed to bankruptcies increasing, a halt in movement for 10 minus 2 year yields, a slowdown in the unemployment rate, and initial jobless claims that have not yet begun to rise. He suggested that these developments indicate time may be running out for the current business cycle.
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Karim has previously commented on commodity market trends, noting that gold has struggled to outperform stock markets. He has also observed that Bitcoin priced in gold recently halted its downward move at a congestion area. These earlier views come as he now tracks potential signals of business cycle risk in the U.S. economy.