
Thoughtful Money with Adam Taggart 'Worst Bear Market' Of Our Lifetime To Begin In 2026? | Michael Oliver
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Nov 25, 2025 Michael Oliver, a renowned technical market analyst and founder of Momentum Structural Analysis, returns to discuss a potential market downturn. He warns that the worst bear market could begin as early as 2026, likening current market conditions to those before past crises. Oliver predicts significant declines and urges investors to shift towards monetary metals like gold and silver, while advising caution about Fed rate cuts. He also explores the social and political consequences of a severe downturn, predicting that this could lead to major changes in society.
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Market Is In A Long Topping Process
- Michael Oliver sees the market in a multi-month topping process that began late last year and will show real breakage in Q1 next year.
- He says momentum measures have already broken uptrend structures even when price made new highs, signaling a likely major downtrend ahead.
A 15-Year 'Cheech And Chong' Bubble
- Oliver calls the last 15 years a massive asset bubble enabled by ultra-low rates and QE that distorted price discovery.
- He warns the fallout could be larger than prior busts because interest rates have been historically suppressed for so long.
Shift Capital Toward Monetary Metals
- Consider repositioning into monetary metals (gold and silver) as primary defensive assets ahead of the expected market breakdown.
- Michael Oliver specifically recommends monetary metals over fiat cash or government debt, calling them 'real money.'


