MacroVoices #392 Jesse Felder: Questioning the Soft Landing Narrative

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 7 September 2023

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

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Summary

MacroVoices Erik Townsend and Patrick Ceresna welcome Jesse Felder to the show. They discuss the many reasons Jesse is questioning the soft landing narrative and expecting more turbulence for the stock market. Then Erik shares his exciting commodity trade idea before moving onto postgame with Patrick. https://bit.ly/45I2ysd Download Jesse’s charts: https://bit.ly/3Eu9PQt Download Big Picture Trading chartbook 📈📉 https://bit.ly/3RbCyRu ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/2JjZR7J Please visit our website https://www.macrovoices.com to register your free account to gain access to supporting materials

Transcript

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0:00.0	This is MacroVoices, the free weekly financial podcast targeting professional finance, high
0:14.4	net worth individuals, family offices, and other sophisticated investors. MacroVoices
0:20.4	is all about the brightest minds in the world of finance and macroeconomics telling it
0:25.2	like it is, bullish or bearish, no holds barred. Now, here are your hosts, Eric Townsend
0:31.4	and Patrick Serezna. MacroVoices episode 392 is produced on September 7, 2023. I'm Eric Townsend.
0:42.5	Jesse Felder returns as this week's feature interview guest. We'll discuss the many reasons
0:46.8	Jesse is questioning the soft landing narrative and expecting more turbulence for the stock market.
0:52.3	And I've got a commodity trade I'm pretty excited about, but it's much bigger than I could ever
0:57.0	put on myself. It involves ridding the entire planet of nuclear waste and making a considerable
1:03.4	profit from doing that. I'm going to lay out the entire trade for you right here on MacroVoices
1:08.2	after the feature interview with Jesse Felder. And I'm Patrick Serezna with the macro scoreboard
1:12.9	week over week as of the close Wednesday, September 6, 2023, the S&P 500 futures were down
1:19.9	117 basis points to 4471. Note that if you are charting the continuous futures contracts, the role
1:26.7	happens into next week from September to December with almost a 50 point difference. So it's just
1:32.2	important to note that that is not an actual gap higher in the market. We will take a closer look
1:36.8	at that chart and the key technical levels to watch in the post game segment. The US dollar index
1:42.2	up 162 basis points to 10480 cleared the May highs and is approaching the year highs from January
1:49.8	and March the October WTI crude oil contract up 681 basis points closing at 8719. The bulls
1:58.7	bought the dip with inventions clearing year highs with next resistance in the 90s. Eric and I
2:05.2	will look at that chart in the post game. The December gold contract down 147 basis points to
2:12.2	1944. The August rally proved simply to be an oversold retracement with the prevailing downtrend
2:19.3	still in play. Copper down 130 basis points to 379 remaining in the middle of a four month trade
	...

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