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Right now the 3 major controlling narratives are:

1. Copper and precious metals are accelerating. The copper super-cycle is coming. AI, electrification, and energy infrastructure are colliding with real supply constraints.

2. Japanese Yen weakness and skyrocketing JGBs. (Potential US Intervention)

3. Higher US 10yr Rates. Long-dated U.S. Treasuries have failed as portfolio protection.

FX regime shift underway: For the first time in over a decade, the Fed stepped in verbally to support the JPY. That matters. Dollar selling and yen support are now explicit tools on the table — a material shift in global currency policy. Prepare for a weaker U.S. dollar and for THE JPY CARRY TRADE TO UNWIND.

• “We still like AMD”. Up ~12% last week and still under-owned relative to where AI capex is headed.

• Software remains structurally weak.

• Samsung is the best and bringing KOSPI higher. Compute & storage demand are set to go parabolic.

This chart is the controlling narrative for EVERYTHING right now.

Here are the levels on the S&P.

We started to really pound the table on Silver back in 2020 with this chart below.

We stated “Silver is going to head towards $100” because of photovoltaic sensors in solar panels. Blowing past this.

CLICK HERE to see the 4 stocks we are actively monitoring.