Mike McGlone expects crude oil prices to drift lower due to declining Chinese demand and the US being a net exporter. He sees Bitcoin as a leading indicator for risk assets, predicting further declines. Gold is rangebound and overvalued versus rising bond yields, likely stuck for years.

implicit

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USD
Bitcoin down
Bloomberg 5.5
Financial Media
Mike McGlone 5.0
5/28/2026 8:10:10 PM
dxy
metals
It's probably gonna be rangebound for 10 years, maybe around 3500 on the bottom. I think it's stuck in a range for a long time.
5/21/2026 8:16:00 PM short term cautious down 5 days later -0.89% +0.45%
5/7/2026 7:02:33 PM medium term cautious up 20 days later -5.66% -2.83%
5/7/2026 11:14:07 AM medium term up 20 days later -5.66% -5.66%
4/16/2026 5:48:30 PM medium term up 20 days later -3.17% -3.17%
3/21/2026 1:47:39 AM long term down 60 days later +4.32% -4.32%
3/19/2026 10:26:26 PM short term down 5 days later +2.41% -2.41%
3/19/2026 8:12:15 PM short term sharp down 5 days later +2.41% -3.62%
3/4/2026 2:20:59 PM short term down 5 days later +4.23% -4.23%
2/23/2026 10:19:28 AM short term up 6 days later +3.23% +3.23%
2/20/2026 7:33:41 PM short term down 7 days later +1.77% -1.77%
2/19/2026 11:46:00 PM short term up 5 days later +2.46% +2.46%
2/12/2026 8:51:59 AM medium term up 20 days later +2.56% +2.56%
2/5/2026 9:56:02 AM short term down 5 days later +4.73% -4.73%
2/3/2026 11:03:27 AM medium term sharp up 20 days later +2.40% +3.60%
2/2/2026 8:50:45 PM short term sharp down 6 days later +1.02% -1.52%
2/2/2026 10:10:47 AM short term sharp down 6 days later +1.02% -1.52%
1/30/2026 2:30:29 PM short term down 7 days later +6.99% -6.99%
1/29/2026 9:23:52 AM short term up 5 days later +2.93% +2.93%
1/29/2026 9:18:07 AM short term sharp up 5 days later +2.93% +4.40%
1/28/2026 1:08:47 AM short term sharp up 5 days later -16.50% -24.75%
1/27/2026 5:40:35 AM short term cautious down 5 days later -21.17% +10.58%
1/26/2026 2:05:23 PM short term cautious down 6 days later -18.04% +9.02%
1/26/2026 10:56:46 AM short term cautious down 6 days later -18.04% +9.02%
1/26/2026 10:10:52 AM short term sharp up 6 days later -18.04% -27.06%
1/23/2026 10:16:13 AM short term up 7 days later -16.21% -16.21%
1/21/2026 3:54:53 PM short term sharp up 5 days later +9.15% +13.73%
1/19/2026 10:27:54 AM short term sharp up 6 days later +9.93% +14.89%
1/15/2026 8:01:10 PM short term up 5 days later +4.70% +4.70%
1/14/2026 9:49:21 AM short term sharp up 5 days later +2.92% +4.38%
1/14/2026 6:48:56 AM medium term up 20 days later +1.48% +1.48%
1/10/2026 2:50:05 AM medium term cautious up 21 days later -2.27% -1.14%
12/24/2025 10:09:01 AM short term sharp up 5 days later -7.53% -11.30%
12/24/2025 8:43:44 AM short term up 5 days later -7.53% -7.53%
12/24/2025 7:08:10 AM short term sharp up 5 days later -7.53% -11.30%
12/23/2025 7:24:06 AM short term sharp up 5 days later -1.80% -2.71%
12/22/2025 11:02:38 PM medium term cautious down 20 days later +7.73% -3.87%
12/22/2025 9:48:16 PM short term up 6 days later -2.16% -2.16%
12/19/2025 9:48:49 PM short term up 7 days later +0.39% +0.39%
12/1/2025 1:30:08 PM medium term up 20 days later +10.54% +10.54%
11/24/2025 10:10:50 AM long term up 62 days later +50.41% +50.41%
11/11/2025 3:01:41 PM short term sharp up 5 days later -4.54% -6.81%
11/11/2025 2:03:07 PM short term up 5 days later -4.54% -4.54%
11/11/2025 10:07:03 AM short term sharp up 5 days later -4.54% -6.81%
11/10/2025 2:14:07 PM short term up 6 days later -2.26% -2.26%
10/22/2025 11:01:29 PM short term sharp down 5 days later -3.73% +5.60%
10/22/2025 10:20:48 AM short term sharp down 5 days later -3.73% +5.60%
10/21/2025 9:16:26 PM short term cautious down 5 days later -3.09% +1.55%
10/20/2025 6:00:17 PM short term up 6 days later -2.71% -2.71%
10/8/2025 9:39:08 PM short term cautious down 5 days later +4.31% -2.16%
10/8/2025 1:58:52 PM short term sharp up 5 days later +4.31% +6.47%
10/7/2025 5:54:39 AM short term sharp up 5 days later +2.72% +4.07%
10/2/2025 12:01:12 PM short term up 5 days later +4.07% +4.07%
10/1/2025 10:25:13 PM short term sharp up 5 days later +3.05% +4.58%
10/1/2025 3:37:28 PM short term up 5 days later +3.05% +3.05%
10/1/2025 8:12:58 AM short term sharp up 5 days later +3.05% +4.58%
9/29/2025 10:23:48 AM medium term sharp up 20 days later +13.19% +19.78%
9/24/2025 12:53:15 PM short term sharp up 5 days later +2.86% +4.29%
9/19/2025 10:47:12 AM short term up 7 days later +3.81% +3.81%
9/8/2025 11:19:17 PM short term sharp up 6 days later +2.35% +3.53%
9/5/2025 10:16:54 AM short term up 7 days later +1.91% +1.91%
9/2/2025 8:43:37 AM short term sharp up 5 days later +1.32% +1.98%
8/18/2025 11:31:36 PM medium term sharp up 20 days later +9.56% +14.34%
8/18/2025 11:10:24 PM short term down 6 days later +1.94% -1.94%
8/14/2025 11:46:57 PM short term down 5 days later +0.09% -0.09%
8/11/2025 9:25:03 PM short term up 6 days later -0.16% -0.16%
8/11/2025 10:07:32 AM short term cautious down 6 days later -0.16% +0.08%
8/8/2025 8:23:48 PM short term sharp up 7 days later -0.25% -0.38%
Show all 67 metals results
ndx
Bitcoin is a leading indicator for risk assets; Bitcoin down 20% on the year, so stock market (including NDX) will follow lower.
rut
Same reasoning as NDX: Bitcoin leads risk assets lower, so RUT will also decline.
wti
I fully expect that crude oil price to continue to drift lower as we get through this crisis.
5/21/2026 9:08:20 PM short term up 5 days later -8.20% -8.20%
5/20/2026 11:58:17 PM short term sharp down 5 days later -2.55% +3.83%
5/20/2026 11:06:22 PM short term down 5 days later -2.55% +2.55%
5/20/2026 9:19:43 PM short term sharp down 5 days later -2.55% +3.83%
5/20/2026 12:22:59 AM short term down 5 days later -2.55% +2.55%
5/19/2026 11:25:08 PM short term sharp up 5 days later -1.69% -2.53%
5/19/2026 1:26:20 PM short term up 5 days later -1.69% -1.69%
5/19/2026 10:44:11 AM short term down 5 days later -1.69% +1.69%
5/19/2026 1:59:18 AM short term up 5 days later -1.69% -1.69%
5/13/2026 9:18:02 PM short term cautious down 5 days later +6.52% -3.26%
5/13/2026 9:05:11 PM short term up 5 days later +6.52% +6.52%
5/13/2026 4:02:01 PM short term up 5 days later +6.52% +6.52%
5/13/2026 2:30:46 PM short term up 5 days later +6.52% +6.52%
5/13/2026 8:05:25 AM short term cautious up 5 days later +6.52% +3.26%
5/12/2026 6:29:30 PM short term sharp up 5 days later +7.56% +11.34%
5/12/2026 3:58:46 PM short term up 5 days later +7.56% +7.56%
5/12/2026 9:34:37 AM short term up 5 days later +7.56% +7.56%
5/11/2026 3:42:16 PM short term up 6 days later +6.34% +6.34%
5/11/2026 2:37:40 PM short term up 6 days later +6.34% +6.34%
5/11/2026 2:21:17 PM short term up 6 days later +6.34% +6.34%
5/11/2026 2:21:17 PM short term up 6 days later +6.34% +6.34%
5/11/2026 10:21:17 AM short term up 6 days later +6.34% +6.34%
5/11/2026 10:08:16 AM short term up 6 days later +6.34% +6.34%
5/11/2026 10:08:16 AM short term up 6 days later +6.34% +6.34%
5/11/2026 7:45:07 AM short term up 6 days later +6.34% +6.34%
5/8/2026 10:50:00 PM short term cautious up 7 days later +10.80% +5.40%
5/8/2026 7:51:14 PM short term cautious up 7 days later +10.80% +5.40%
5/8/2026 10:34:17 AM short term up 7 days later +10.80% +10.80%
5/8/2026 10:33:30 AM short term up 7 days later +10.80% +10.80%
5/8/2026 9:39:28 AM short term sharp up 7 days later +10.80% +16.20%
5/8/2026 8:52:09 AM short term up 7 days later +10.80% +10.80%
5/7/2026 10:07:01 PM medium term cautious down 20 days later -6.83% +3.42%
5/7/2026 9:40:03 PM short term up 5 days later +5.87% +5.87%
5/7/2026 9:26:20 PM short term up 5 days later +5.87% +5.87%
5/7/2026 8:09:28 PM medium term cautious down 20 days later -6.83% +3.42%
5/7/2026 2:41:58 PM short term cautious down 5 days later +5.87% -2.93%
5/7/2026 10:02:35 AM short term down 5 days later +5.87% -5.87%
5/7/2026 7:06:33 AM short term cautious down 5 days later +5.87% -2.93%
5/6/2026 11:23:07 PM short term cautious up 5 days later +7.77% +3.89%
5/5/2026 11:37:18 PM short term sharp up 5 days later +3.14% +4.72%
5/5/2026 8:51:31 PM short term sharp up 5 days later +3.14% +4.72%
5/5/2026 10:43:29 AM short term up 5 days later +3.14% +3.14%
5/5/2026 7:41:33 AM short term sharp up 5 days later +3.14% +4.72%
5/5/2026 7:41:33 AM short term sharp up 5 days later +3.14% +4.72%
5/5/2026 6:19:06 AM short term cautious up 5 days later +3.14% +1.57%
5/5/2026 12:24:00 AM short term sharp up 5 days later +3.14% +4.72%
5/4/2026 9:43:41 AM medium term cautious up 20 days later -5.54% -2.77%
5/2/2026 3:08:03 PM short term sharp up 7 days later -7.85% -11.77%
5/1/2026 3:08:28 PM short term sharp up 7 days later -7.85% -11.77%
5/1/2026 3:05:47 PM short term sharp up 7 days later -7.85% -11.77%
5/1/2026 11:35:10 AM short term sharp up 7 days later -7.85% -11.77%
5/1/2026 9:53:00 AM short term sharp up 7 days later -7.85% -11.77%
4/30/2026 11:36:17 PM medium term cautious down 20 days later -5.48% +2.74%
4/30/2026 3:40:05 PM medium term sharp up 20 days later -5.48% -8.23%
4/30/2026 2:31:00 PM short term sharp up 5 days later -6.73% -10.09%
4/30/2026 1:25:28 PM short term sharp up 5 days later -6.73% -10.09%
4/30/2026 11:15:59 AM short term up 5 days later -6.73% -6.73%
4/30/2026 10:27:44 AM short term sharp up 5 days later -6.73% -10.09%
4/30/2026 8:02:59 AM short term sharp up 5 days later -6.73% -10.09%
4/29/2026 11:30:52 PM short term up 5 days later -2.66% -2.66%
4/29/2026 2:08:01 PM short term sharp up 5 days later -2.66% -4.00%
4/29/2026 11:42:11 AM short term sharp up 5 days later -2.66% -4.00%
4/27/2026 7:39:37 PM medium term down 20 days later +8.74% -8.74%
4/27/2026 1:02:38 PM short term cautious up 6 days later +6.49% +3.25%
4/27/2026 10:29:21 AM short term cautious up 6 days later +6.49% +3.25%
4/24/2026 3:07:59 PM short term sharp up 7 days later +10.43% +15.64%
4/24/2026 1:23:43 PM short term sharp up 7 days later +10.43% +15.64%
4/24/2026 1:18:06 PM short term sharp up 7 days later +10.43% +15.64%
4/24/2026 11:16:33 AM short term up 7 days later +10.43% +10.43%
4/24/2026 11:01:37 AM short term sharp up 7 days later +10.43% +15.64%
4/24/2026 9:53:00 AM short term sharp up 7 days later +10.43% +15.64%
4/24/2026 9:53:00 AM short term sharp up 7 days later +10.43% +15.64%
4/24/2026 12:09:41 AM short term sharp up 7 days later +10.43% +15.64%
4/20/2026 11:58:40 PM short term down 6 days later +4.60% -4.60%
4/20/2026 7:06:15 PM short term down 6 days later +4.60% -4.60%
4/20/2026 7:38:52 AM short term up 6 days later +4.60% +4.60%
4/18/2026 2:40:06 AM medium term down 21 days later +9.44% -9.44%
4/18/2026 2:18:29 AM short term sharp down 7 days later +7.54% -11.32%
4/18/2026 12:01:38 AM short term sharp down 7 days later +7.54% -11.32%
4/17/2026 4:22:48 PM short term down 7 days later +7.54% -7.54%
4/13/2026 7:26:30 PM short term up 6 days later -1.83% -1.83%
4/13/2026 7:26:30 PM short term sharp up 6 days later -1.83% -2.74%
4/13/2026 7:26:30 PM short term up 6 days later -1.83% -1.83%
4/13/2026 7:00:27 PM short term up 6 days later -1.83% -1.83%
4/13/2026 2:27:08 PM short term sharp up 6 days later -1.83% -2.74%
4/12/2026 7:34:52 PM short term sharp up 7 days later -9.56% -14.34%
4/12/2026 3:41:23 PM short term up 7 days later -9.56% -9.56%
4/12/2026 3:41:14 PM short term up 7 days later -9.56% -9.56%
4/10/2026 10:10:32 PM short term up 7 days later -9.56% -9.56%
4/10/2026 3:55:23 PM medium term up 21 days later +7.41% +7.41%
4/10/2026 1:31:13 PM medium term up 21 days later +7.41% +7.41%
4/10/2026 12:31:57 AM short term cautious up 7 days later -9.56% -4.78%
4/6/2026 10:30:45 PM medium term cautious down 20 days later -14.68% +7.34%
4/6/2026 7:54:23 PM medium term up 20 days later -14.68% -14.68%
4/4/2026 7:49:11 PM medium term cautious down 21 days later -14.27% +7.13%
4/3/2026 3:02:21 AM short term sharp up 7 days later -11.86% -17.79%
4/3/2026 12:36:51 AM short term sharp up 7 days later -11.86% -17.79%
3/30/2026 3:30:54 PM short term cautious up 6 days later +10.88% +5.44%
3/30/2026 2:09:27 PM medium term sharp up 20 days later -11.61% -17.41%
3/30/2026 2:04:13 PM short term sharp up 6 days later +10.88% +16.32%
3/30/2026 8:40:46 AM short term sharp up 6 days later +10.88% +16.32%
3/29/2026 5:07:24 PM short term up 7 days later +9.26% +9.26%
3/28/2026 6:03:36 PM short term up 7 days later +9.26% +9.26%
3/27/2026 11:07:21 PM short term sharp up 7 days later +9.26% +13.89%
3/27/2026 11:59:23 AM short term sharp up 7 days later +9.26% +13.89%
3/27/2026 2:00:21 AM short term sharp up 7 days later +9.26% +13.89%
3/25/2026 10:52:54 AM short term down 5 days later +7.30% -7.30%
3/23/2026 9:56:47 AM short term cautious up 6 days later +11.40% +5.70%
3/21/2026 1:47:39 AM long term sharp down 60 days later +9.61% -14.42%
3/20/2026 4:06:06 PM short term sharp up 7 days later +16.74% +25.10%
3/20/2026 2:30:40 AM short term up 7 days later +16.74% +16.74%
3/13/2026 9:25:35 PM medium term sharp up 21 days later +20.22% +30.34%
3/13/2026 6:57:37 PM short term cautious up 7 days later -5.74% -2.87%
3/13/2026 6:57:37 PM short term cautious up 7 days later -5.74% -2.87%
3/13/2026 9:59:21 AM short term sharp up 7 days later -5.74% -8.61%
3/11/2026 10:09:41 PM short term sharp up 5 days later +0.50% +0.75%
3/10/2026 9:18:14 AM medium term up 20 days later +16.19% +16.19%
3/10/2026 2:38:02 AM medium term down 20 days later +16.19% -16.19%
3/10/2026 12:08:58 AM short term up 5 days later +7.16% +7.16%
3/9/2026 6:46:13 PM medium term sharp up 20 days later +23.28% +34.93%
3/9/2026 2:08:40 PM short term sharp up 6 days later +12.04% +18.06%
3/9/2026 10:03:43 AM short term sharp up 6 days later +12.04% +18.06%
3/9/2026 10:03:43 AM short term up 6 days later +12.04% +12.04%
3/9/2026 8:28:21 AM short term sharp up 6 days later +12.04% +18.06%
3/9/2026 6:55:49 AM short term sharp up 6 days later +12.04% +18.06%
3/8/2026 3:01:00 AM short term up 7 days later -1.34% -1.34%
3/5/2026 10:50:58 PM short term sharp up 5 days later -4.02% -6.02%
3/5/2026 2:02:48 PM short term up 5 days later -4.02% -4.02%
3/4/2026 2:05:06 PM short term sharp up 5 days later +3.01% +4.52%
3/4/2026 5:43:12 AM short term cautious down 5 days later +3.01% -1.51%
3/3/2026 10:53:30 AM short term up 5 days later +26.94% +26.94%
3/3/2026 8:39:08 AM short term sharp up 5 days later +26.94% +40.40%
3/2/2026 8:34:28 PM medium term down 20 days later +18.20% -18.20%
2/25/2026 9:27:27 AM short term cautious up 5 days later +14.34% +7.17%
2/20/2026 2:32:12 PM short term cautious up 7 days later +7.42% +3.71%
2/20/2026 10:59:11 AM short term up 7 days later +7.42% +7.42%
2/19/2026 11:46:00 PM short term cautious up 5 days later -1.46% -0.73%
2/19/2026 10:55:34 PM medium term cautious down 20 days later +44.19% -22.10%
2/11/2026 10:46:14 PM short term up 5 days later -0.81% -0.81%
2/2/2026 10:10:47 AM short term down 6 days later +1.82% -1.82%
2/2/2026 10:10:47 AM short term down 6 days later +1.82% -1.82%
1/30/2026 6:19:23 AM short term cautious up 7 days later +3.57% +1.79%
1/29/2026 9:02:44 PM medium term cautious down 20 days later +1.87% -0.94%
1/20/2026 6:00:07 PM short term up 5 days later +0.02% +0.02%
1/16/2026 7:33:17 PM short term sharp up 7 days later +2.02% +3.03%
1/12/2026 6:04:30 PM medium term down 20 days later +1.62% -1.62%
1/10/2026 2:50:05 AM medium term down 21 days later +4.44% -4.44%
1/9/2026 6:25:43 AM short term cautious down 7 days later -0.12% +0.06%
1/7/2026 9:00:08 PM short term cautious down 5 days later +5.87% -2.93%
12/22/2025 11:02:38 PM short term cautious down 6 days later -0.51% +0.26%
12/22/2025 9:48:16 PM short term up 6 days later -0.51% -0.51%
12/22/2025 7:55:54 AM long term down 62 days later +13.58% -13.58%
12/19/2025 10:53:44 PM medium term down 21 days later +2.57% -2.57%
12/19/2025 9:48:49 PM short term up 7 days later +0.12% +0.12%
12/18/2025 9:42:38 PM short term down 5 days later +2.98% -2.98%
12/18/2025 1:08:16 PM short term cautious up 5 days later +2.98% +1.49%
12/17/2025 2:09:01 PM short term cautious down 5 days later +3.97% -1.99%
12/16/2025 11:40:23 PM short term sharp down 5 days later +3.70% -5.55%
12/16/2025 11:22:24 PM medium term sharp down 20 days later +2.13% -3.19%
11/24/2025 10:29:53 AM long term cautious down 62 days later +4.62% -2.31%
10/23/2025 2:05:44 PM short term sharp up 5 days later -1.66% -2.49%
10/22/2025 11:01:29 PM short term cautious down 5 days later -2.65% +1.33%
10/21/2025 9:16:26 PM short term cautious down 5 days later +4.80% -2.40%
10/20/2025 6:00:17 PM short term cautious down 6 days later +6.04% -3.02%
9/30/2025 11:07:33 PM short term down 5 days later -0.15% +0.15%
9/30/2025 7:44:54 AM short term cautious down 5 days later -0.15% +0.07%
9/29/2025 7:07:25 AM short term cautious down 6 days later -1.09% +0.55%
9/29/2025 7:07:25 AM short term down 6 days later -1.09% +1.09%
9/24/2025 7:52:42 AM short term up 5 days later -4.02% -4.02%
9/19/2025 10:47:12 AM short term down 7 days later +1.29% -1.29%
9/9/2025 8:33:16 PM short term up 5 days later -0.58% -0.58%
9/8/2025 11:19:17 PM short term up 6 days later +1.07% +1.07%
9/8/2025 11:11:54 AM short term cautious up 6 days later +1.07% +0.53%
9/8/2025 8:18:05 AM short term down 6 days later +1.07% -1.07%
9/5/2025 10:16:54 AM short term down 7 days later +1.67% -1.67%
9/5/2025 7:27:44 AM medium term cautious down 21 days later +1.91% -0.96%
9/4/2025 11:19:15 AM short term down 5 days later +2.91% -2.91%
8/18/2025 11:10:24 PM short term up 6 days later +3.93% +3.93%
8/15/2025 11:21:59 PM short term down 7 days later +2.18% -2.18%
8/14/2025 11:46:57 PM short term up 5 days later +0.65% +0.65%
8/11/2025 10:07:32 AM short term cautious down 6 days later +0.40% -0.20%
8/8/2025 8:23:48 PM short term down 7 days later -0.84% +0.84%
8/8/2025 10:13:14 AM short term sharp down 7 days later -0.84% +1.27%
8/5/2025 10:44:07 AM short term down 5 days later -0.61% +0.61%
8/4/2025 11:29:13 PM short term down 6 days later -1.84% +1.84%
8/4/2025 9:08:09 PM short term cautious down 6 days later -1.84% +0.92%
Show all 186 wti results
yields
Bond yield stays above 5% is a problem; gold expensive versus yields, implying yields remain elevated but not necessarily moving sharply.

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