Coffey argues the market is pricing in a more hawkish Fed under Kevin Warsh, leading to bear flattening and a stronger dollar, which pressures gold and Bitcoin. He sees tech's free cash flow depleted, forcing companies to raise capital, penalizing both hyperscalers and suppliers. Memory chips are a commodity, raising costs without productive return. Oil is rangebound with de-escalation risks. Onsemi-Synaptics deal dilutive; OpenAI IPO likely delayed.
explicit
implicit
RUT
explicit
explicit
explicit
memory chips up
Next Gen Investing
7.5
Investment Bank
Alex Coffey 6.0
Investment Bank
Alex Coffey 6.0
6/26/2026 3:39:55 PM
dxy
US dollar started to firm up versus other currencies worldwide
metals
gold... is basically at the lowest levels that we've seen in quite some time... down at 4000
| 6/4/2026 6:00:29 PM | short term up | 5 days later | -5.17% | -5.17% |
ndx
Coffey describes tech sell-off, depleted cash flows, forced capital raising, and margin pressure from commodity-like memory chips, all pointing to near-term downside for Nasdaq.
wti
it's long and drawn out, but it's de-escalated significantly... until there's pen to paper, it's probably going to be more of the same
| 6/4/2026 6:00:29 PM | short term cautious down | 5 days later | -0.56% | +0.28% |
| 4/2/2026 3:31:24 PM | short term sharp up | 5 days later | -15.36% | -23.04% |
yields
bear flattening... short term rates went up at a faster pace than long term rates did
