This is Macro Voices with hedge fund manager Eric Townsend, the free weekly financial

podcast targeting professional finance, high net worth individuals, family offices, and

other sophisticated investors. Macro Voices is all about the brightest minds in the world

of finance and macroeconomics telling it like it is. Bullish your bearish, no holds

barred. Now here are your hosts, Eric Townsend and Patrick Sarresna.

Macro Voices Episode 325 was recorded on May 26, 2022. I'm Eric Townsend.

This episode of Macro Voices was brought to you by FarmTogether.com where you can hedge

against inflation and protect your portfolio by investing in U.S. farmland, now available

to all accredited investors.

Variant perception CEO and head of market research, Tian Yang returns as this week's

feature interview guest. We'll go through variant perceptions latest leading economic

indicator research and discuss whether the current equity route signals an oncoming recession

or if it's just a mid cycle pullback. Then be sure to stay tuned for our post game segment

when I'll give you my analysis of the monkey pox scare and why I'm not overly concerned

about it escalating into another pandemic. Then we'll dive into Patrick's chart tick which

will be titled What's Next for Markets.

And I'm Patrick Sarresna, Eric. Let's dive into the S&P 500. I mean right after last

week's show we had the market basically breakdown make a fresh new intraday low but didn't

close at a lower low. And really we have spent so far most of the week crawling higher and

suddenly we're back above 4000 heading toward 4,100. We're at 4,062 at the time of recording.

What are you thinking here on the S&P?

Well as you said when we saw that breakdown to a new lower low after last week's show

...