Positions Report – 5/9/23

I’m maintaining the count that I have been tracking for many months. In short, we are close to completing the last bear market rally before the final leg lower. It is very rare to see a complex correction play out on such a large scale. However, the pattern and character of this bear market fits the pattern quite well. In these complex corrections, one of the hallmarks is that the final legs are stretched out and take longer to complete in relation to the first few legs.

Members receive institutional-grade context on positioning, risk, and catalysts — not just headlines.

Our research team publishes deep dives on sector themes, earnings setups, and portfolio actions as conditions change.