Saxo Market Call Crosscurrents all around and outrageous predictions!
Dec 3, 2025
This podcast dives into the current market crosscurrents, highlighting the surprising rebounds of some previously beaten down sectors. There's a keen focus on the struggles of the AI and tech rally, which remains lackluster. Technical analysis reveals intriguing patterns in big tech stocks and notable sector rotations. The geopolitical landscape is dissected, with tensions in NATO and the Pacific drawing attention. Additionally, insights into macroeconomic trends include pivotal movements in the USD and commodities like silver and bitcoin making headlines.
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Crosscurrents Keep Rally Unconvincing
- Markets show mixed momentum with tech trying to recover while previously beaten sectors surge, creating crosscurrents.
- John Hardy sees range-bound scratching and expects more fizzling until proven otherwise.
Tech Shows Bearish Technical Warnings
- Several large tech names presented bearish technical patterns like shooting stars and Doji formations.
- John Hardy highlights these as clear setups for bears with defined risk-reward levels.
Rotation Into Beaten Sectors Emerging
- Some beaten sectors and transport-related ETFs have sharply reversed from deeply negative to strongly positive.
- Hardy flags this as potential rotation away from tech toward undervalued cyclicals.