{"id":64788,"date":"2026-06-02T09:27:36","date_gmt":"2026-06-02T09:27:36","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=64788"},"modified":"2026-06-02T09:27:36","modified_gmt":"2026-06-02T09:27:36","slug":"markets-in-risk-off-despite-high-stock-prices","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/06\/02\/markets-in-risk-off-despite-high-stock-prices\/","title":{"rendered":"Markets in Risk-Off Despite High Stock Prices"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>Bitcoin tests support at 70,000, signaling risk-off.<\/li>\n<li>Stocks continue their uptrend.<\/li>\n<li>Consumers continue to spend, but the falling saving rate suggests they are under pressure.<\/li>\n<li>Manufacturers are building inventories ahead of expected price rises and supply chain disruptions.<\/li>\n<\/ul>\n<hr \/>\n<p>Bitcoin<sup>1<\/sup> is testing support at 70,000. The steep downtrend warns that financial markets are increasingly risk-averse.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-01-btc.png?resize=525%2C363&#038;ssl=1\" alt=\"Bitcoin (BTC)\" width=\"525\" height=\"363\" \/><\/p>\n<p>However, indices like the NASDAQ remain in a strong uptrend, with the Invesco QQQ ETF close to our target of 750.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-06-01-qqq.png?resize=525%2C404&#038;ssl=1\" alt=\"Invesco Nasdaq 100 ETF (QQQ)\" width=\"525\" height=\"404\" \/><\/p>\n<i>[Content protected for Premium, Australian Growth, International Growth, Market Analysis members only]<\/i>\n&#8230;..<\/p>\n<p>If you are already a subscriber, please login to continue reading:<\/p>\n<div style=\"width: 400px; max-width: 90%; margin: auto;\"><div class=\"WishListMember_LoginMergeCode\"><div class=\"wlm-ajax-login\"><div class=\"wlm-ajax-login-form\"><form action=\"https:\/\/thepatientinvestor.com\/wp-login.php\" method=\"post\" class=\"wlm_inpageloginform\">\n<input type=\"hidden\" name=\"wlm_redirect_to\" value=\"wishlistmember\" \/>\n<input type=\"hidden\" name=\"redirect_to\" value=\"wishlistmember\" \/>\n<div class=\"wlm3-form\">\n<div class=\"wlm3-form-group\"><label>Username or Email Address<\/label><input name=\"log\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_log\" type=\"text\" value=\"\"><\/div>\n<div class=\"wlm3-form-group\"><label>Password<\/label><span class=\"wishlist-member-login-password\"><input name=\"pwd\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_pwd\" type=\"password\" value=\"\"><a href=\"#\" class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/a><\/span><\/div>\n\n<div class=\"wlm3-form-group\"><label><input name=\"rememberme\" class=\" form-checkbox fld\" id=\"wlm_form_field_rememberme\" type=\"checkbox\"  value=\"forever\"> Remember Me<\/label><\/div>\n<p><input name=\"wp-submit\" class=\"\" id=\"wlm_form_field_wp-submit\" type=\"submit\" value=\"Login\"><\/p>\n\n<p>\n<a href=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=lostpassword\">Lost your Password?<\/a>\n<\/p>\n<\/div>\n<\/form><\/div><form method=\"post\" action=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=wishlistmember-otl\" class=\"wlm-ajax-login-form-otl\" style=\"display: none;\"><div class=\"wlm-ajax-login-notice -permanent\">Please enter your username or email address. 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You will receive an email message with instructions on how to reset your password.<\/div><div class=\"wlm3-form\"><div class=\"wlm3-form-group\"><label>Username or Email Address<\/label><input name=\"user_login\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_user_login\" type=\"text\" value=\"\"><\/div><p><input name=\"wp-submit\" class=\"\" id=\"wlm_form_field_wp-submit\" type=\"submit\" value=\"Get New Password\"><\/p><input name=\"action\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_action\" type=\"hidden\" value=\"lostpassword\"><p><a href=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=login\">Log in<\/a><\/p><\/div><\/form><\/div><\/div><\/div>\n<p>If you are not a subscriber, <a href=\"https:\/\/thepatientinvestor.com\/index.php\/subscribe\/\">click here<\/a> to find out more about our latest offer.\n","protected":false},"excerpt":{"rendered":"<p>Key Points Bitcoin tests support at 70,000, signaling risk-off. Stocks continue their uptrend. Consumers continue to spend, but the falling saving rate suggests they are under pressure. Manufacturers are building inventories ahead of expected price rises and supply chain disruptions. Bitcoin1 is testing support at 70,000. The steep downtrend warns that financial markets are increasingly &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/06\/02\/markets-in-risk-off-despite-high-stock-prices\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Markets in Risk-Off Despite High Stock Prices&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4738,5342,6,3761,9,10,34],"tags":[5056,1113,7048,3010],"class_list":["post-64788","post","type-post","status-publish","format-standard","hentry","category-copper","category-cryptocurrency","category-fixed-income","category-gdp-and-activity","category-gold-precious-metals","category-housing-economy","category-us-canada-countries-regions","tag-bitcoin-btc","tag-dow-jones-industrial-average","tag-nasdaq-qqq-etf","tag-sp-500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Markets in Risk-Off Despite High Stock Prices - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Markets in Risk-Off Despite High Stock Prices - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points Bitcoin tests support at 70,000, signaling risk-off. Stocks continue their uptrend. Consumers continue to spend, but the falling saving rate suggests they are under pressure. Manufacturers are building inventories ahead of expected price rises and supply chain disruptions. Bitcoin1 is testing support at 70,000. The steep downtrend warns that financial markets are increasingly &hellip; Continue reading &quot;Markets in Risk-Off Despite High Stock Prices&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/06\/02\/markets-in-risk-off-despite-high-stock-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-02T09:27:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-06-01-btc.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/06\\\/02\\\/markets-in-risk-off-despite-high-stock-prices\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/06\\\/02\\\/markets-in-risk-off-despite-high-stock-prices\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Markets in Risk-Off Despite High Stock Prices\",\"datePublished\":\"2026-06-02T09:27:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/06\\\/02\\\/markets-in-risk-off-despite-high-stock-prices\\\/\"},\"wordCount\":616,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/06\\\/02\\\/markets-in-risk-off-despite-high-stock-prices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-06-01-btc.png\",\"keywords\":[\"Bitcoin (BTC)\",\"Dow Jones Industrial Average\",\"Nasdaq QQQ ETF\",\"S&amp;P 500\"],\"articleSection\":[\"Copper\",\"Cryptocurrency\",\"Fixed Income\",\"GDP and Activity\",\"Gold &amp; 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-gQY","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":61334,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/03\/07\/loaded-for-bear\/","url_meta":{"origin":64788,"position":0},"title":"Loaded for bear","author":"Colin Twiggs","date":"March 7, 2025","format":false,"excerpt":"Donald Trump's on-again-off-again trade war with Canada and Mexico has ramped up uncertainty, causing a violent swing to risk-off in financial markets. Canada is in no mood to back down. Foreign Minister Melanie Joly responded to the latest twist in the tariff saga: \"That's enough! Canadians have had enough. We\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-06-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-06-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-06-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61354,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/03\/11\/bear-market-confirmed\/","url_meta":{"origin":64788,"position":1},"title":"Bear market confirmed","author":"Colin Twiggs","date":"March 11, 2025","format":false,"excerpt":"The Dow Jones Industrial Average closed at 41,433 after marginally breaking primary support at 42,000 yesterday. This confirms a bear market in terms of Dow Theory. Confirmation comes after an earlier bear signal, breaching primary support on the Transportation Average below. The S&P 500 also signals a primary downtrend after\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-11-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-11-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-11-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61320,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/03\/05\/sp-and-dow-threaten-a-bear-market\/","url_meta":{"origin":64788,"position":2},"title":"S&#038;P and Dow threaten a bear market","author":"Colin Twiggs","date":"March 5, 2025","format":false,"excerpt":"The S&P 500 is testing primary support at 5750, shown on the weekly chart below. A breach would signal a primary downtrend. The Dow Jones Industrial Average is similarly headed for a test of primary support at 42K. The Transportation Index is already in a primary downtrend signaled by breach\u2026","rel":"","context":"In &quot;GDP and Activity&quot;","block_context":{"text":"GDP and Activity","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/gdp-and-activity\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-04-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-04-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-04-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63599,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/11\/can-the-dow-hold-above-50000\/","url_meta":{"origin":64788,"position":3},"title":"Can the Dow Hold Above 50,000?","author":"Colin Twiggs","date":"February 11, 2026","format":false,"excerpt":"Key Points The Dow Jones Industrial Average reached a new high above 50,000, but the Roundhill Magnificent 7 ETF (MAGS) is testing primary support. Bitcoin plunged to below 70,000, warning that markets are shedding risk. Gold recovered above $5,000 per ounce amid growing investor demand for a safe haven. The\u2026","rel":"","context":"In &quot;Cryptocurrency&quot;","block_context":{"text":"Cryptocurrency","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/cryptocurrency\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-10-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-10-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-10-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61348,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/03\/11\/its-a-bear-market-3\/","url_meta":{"origin":64788,"position":4},"title":"It&#8217;s a bear market","author":"Colin Twiggs","date":"March 11, 2025","format":false,"excerpt":"The S&P 500 fell 2.7%, the Nasdaq QQQ ETF plunged 3.9% and the Dow lost 890 points on Monday, signaling a bear market. The S&P 500 broke support at 5800 to signal a primary downtrend. The Dow Jones Industrial Average closed at 41911, marginally breaking support at 42K. Follow-through below\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-10-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-10-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-10-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":62072,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/06\/27\/sp-500-breakout-but-no-buy-signal\/","url_meta":{"origin":64788,"position":5},"title":"S&#038;P 500 breakout but no buy signal","author":"Colin Twiggs","date":"June 27, 2025","format":false,"excerpt":"Summary The S&P 500 and Nasdaq reached new highs, but the Dow has not yet confirmed the breakout Liquidity is strong, and long-term Treasury yields are softening But the Conference Board Leading Economic Index warns of a recession The dollar keeps falling, and demand for gold remains strong, flagging high\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-26-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-26-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-26-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=64788"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64788\/revisions"}],"predecessor-version":[{"id":64789,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64788\/revisions\/64789"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=64788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=64788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=64788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}