CoreMacro Charts That Matter

Buy The Dip Or Sell The Dip?

Arthur Budaghyan, Head of CoreMacro

Bear/Bull Market Bubbles/Crises/Manias AI

Published on

11 Nov 2026

Resist buying the equity dip: a major global market top may already be behind us. Sell the US dollar on strength. Accumulate bonds on weakness, favoring those in countries with current account surpluses.

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Contents

Executive Summary
AI’s Impossible Equation
The Big Picture: A Major Market Top
The Bull Market’s Last Hurrah May Already Be Behind Us
Don’t Miss The Forest For The Trees
Reading The Markets’ Tea Leaves
Cracks Are Widening, But No Investor Capitulation Yet
Beware Of US Inflation
US Stocks And Bonds Remain On A Collision Course
The US Dollar Has A New Achilles’ Heel
The Euro Area Economy Is In The Doldrums
EM’s Equity Outperformance Was Entirely Due To Asian Semis
China’s Economic Malaise
China’s Domestic Demand Blues Persist
China’s Booming Trade Is A Price Story
Investment Conclusions

Buy The Dip Or Sell The Dip?

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