US small-caps at a turning point?
Source: J-C Parets
🚨SEISMIC FOR SILVER 🚨
Reports on X and Economic Times of India are emerging that JP Morgan is positioning itself with a historic PHYSICAL SILVER STOCKPILE. If true this is a major event for silver The Economic Times of India : "JP Morgan is going long on silver and making history. The bank now holds over 750 million ounces of physical silver, the largest stockpile in the world. In just six weeks, it added 21 million ounces. That’s a staggering move in a market already under pressure. Between June and October, JP Morgan reportedly sold off its entire 200-million-ounce paper short position. This freed cash to acquire physical silver, leaving the bank long in both physical and paper silver for the first time ever. Experts say this is a rare and powerful market position. The move coincided with the U.S. Mint announcing a shortage of silver coins. Physical supply is tightening while demand is rising. JP Morgan is holding real silver, not paper contracts. This is a key difference from the Hunt brothers’ attempt to corner silver in 1980. Back then, reliance on paper contracts led to intervention and collapse. JP Morgan’s approach reduces risk of regulatory disruption. Source: Economic Times of India, Silvertrade
1) Repo fixed ✔️ : Fed launches Reserve Management Purchases (liquidity injections)
2) Treasury cash flood begins ✔️ : TGA balance down $78BN in one week (3rd biggest liquidity injection of 2025) 3) Meltup ✔️: stocks close at all time high Source: zerohedge
Here it is…
Fed’s first month of T-Bill purchases. $40 BILLION over the next month. Starts today at 9am.
Update: the world didn't end. New all-time closing high
Source: Charlie Bilello
SMALL IS BIG...
The Russell 2000 US small-caps index is extending the break out move. This looks like an inverse head and shoulders formation. Plenty room to run before we reach trend channel highs. Source: LSEG, The Market Ear
US cyclicals vs. defensives up 13 days in a row.
Goldman's Coppersmith: "You don’t get moves like this unless the market is starting to lean into a better growth outlook". Source: LSEG, The Market Ear
They are all cutting target price on Oracle $ORCL...
Goldman PT New $220, Old 320 JPMorgan PT New $230, Old 270 Cantor PT New $320, Old 400 Barclays PT New $310, Old 330 Evercore PT New $275, Old 385 Scotiabank PT New $260, Old 360 TD Cowen PT New $350, Old 400 Melius PT New $260, Old 400 Source: zerohege
