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The September 2022 Newsletter has now been posted

This page is the first three pages of the 23-page September Newsletter.

Topics in this month's research report are: Commodities: Global recession fears mount.  International Equities: Weakness continues.  U.S. & Canadian Equities: Probable bull market end in Q1 or Q2.

The analysis looks at the continued connection between commodities and the U.S. T-bond yields, the price stalling of WTI, Gold's lack of luster, the new downside target, the outlook for copper in Q4, the upward march of the US dollar is not over, world equities continue to decline in September and October, emerging markets feel the pain of the rising US dollar, some European indexes find fragile price support, and Australia's ASX rolls over pointing lower in early Q4.

The US Yield Curve remains inverted for the 6th week increasing recession probability in early 2023.  A prolonged yield curve inversion has predicted the last 7 recessions.  Price weakness is expected for the NYSE, SPX, Dow, Nasdaq, and TSX over the next two months. Sector performance adds to the negative outlook.

For the full report, go to, log in and follow the links to the complete 23-page September newsletter.