Tech employment just fell below 2016 levels. Here is where capital appears to be rotating

Hey 👋 everyone , thanks for extraordinary support on my previous post … !

second time posting here with the new investing strategy.

Something worth paying attention to in the recent jobs data. US tech employment is now sitting at 2.79 million, which puts it below pre-pandemic levels and back to where it was in 2016. The sector has been declining for over 26 consecutive months, and the latest year over year drop of 43,000 jobs actually exceeds what we saw in both 2020 and 2008 in terms of tech specific drawdown.

The reason this matters beyond the sector is straightforward. High income tech layoffs compress consumer spending, pull back SaaS and enterprise demand, and add to the broader narrative that US economic exceptionalism is being repriced. The dollar does not stay unaffected by that.

I wrote a full breakdown with the macro framework I am using right now, including specific asset theses with timeframes and risk tiers for each. The short version is that the assets I find most interesting in this environment are gold and silver on the commodities side, BTC and ETH on spot crypto, and USD/JPY along with EUR/USD in forex.

The gold to silver ratio being stretched above 85 is one of the more interesting setups in the mix. USD/JPY is the cleanest divergence trade given where the Bank of Japan is versus the Fed right now.

Standard disclaimer applies. None of this is financial advice and all of these markets carry real and significant risk.