Weekly Macro Analysis 26.05.24

Metals Melting

Conclusion:

Last week I had pointed out the rally in metals and emerging markets, along with the outperformance of Silver and Solana over Gold an BTC…

This marked the top at least for now. We completely reversed those themes, selling off the metals and the emerging markets along with Silver and Solana dropping harder than Gold and BTC.

I will watch those themes still, as they might just need a pullback after a very strong rally.

What is still working is technology, growth and defense.

What has started to work recently is the solar and the biotech theme with my picks for each theme:

MRNA:

FSLR:

Both of these are extended right now, and I did take profits, however I would love to buy into pullbacks here, as I think those themes still have room to run.