As Anticipated, Gold Lurks, Changes to Come in 2024. The macro market backdrop is not likely to go the way trend following market watchers currently anticipate.
In fact, with patience it could turn out to be like shooting contrary fish in a barrel. The stock market rally – which NFTRH had anticipated a year ago on a larger basis and since October of this year for its next leg on a more compact time frame – is doing a wonderful job of holding to its seasonal pattern (see below). The rally is sucking in the holdout FOMOs who, one by one are falling for the dual pleasantries of a softening Fed and by extension, a Goldilocks-like “soft landing” scenario for the economy.
![](https://i0.wp.com/nftrh.com/wp-content/uploads/2023/02/Goldilocks.jpg?resize=1024%2C723&ssl=1)