Episode 72: Is The Pain Trade Higher? With Tommy Thornton.

<p>Tom Thornton, founder of Hedge Fund Telemetry, joins Maggie Lake on Talking Markets to break down what his sentiment and technical indicators are telling him about markets right now. Tom digs into narrow market breadth, the 10-year yield hovering around 5%, oil’s role as a key macro pressure point, and the growing divide between AI demand and the enormous cost of financing it. Plus: what he’s seeing in the dollar, Bitcoin, volatility, and the signals he’s watching for clues about where markets go next.🥳Happy anniversary Tom!!! Tom is celebrating the 9th anniversary of Hedge Fund Telemetry, and here&#39;s to many more. To celebrate, he has unlocked today&#39;s First Call note. Get it right here: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUZZTVljSEJHd2lHSkV1bW9EcENGcFhuWHZvUXxBTl9pYzRlWnRHVnkwUTFEbmQ4LWMzT1pWRXI2OTFRUVdwNHNBUHV1Rk1MNFZUNFpvV0FqdUM2MkxqckFRUkxBVXZlbFNsYmMyZFYxMXc1eDUya1RsY0hZZlRWQk41Nkp2cm4z&q=https%3A%2F%2Fwww.hedgefundtelemetry.com%2F2026%2F09%2Ffirst-call-september-21-2026%2F&v=de0xxf4-kR0" target="_blank" rel="nofollow">https://www.hedgefundtelemetry.com/20...</a>Get a discount on Tom&#39;s work with code: Anniversary Join us on Substack: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUZZTVljRmEwYVFlZkFocEFkWm01N0xjYkRNbXxBTl9pYzRmajFzNDB1TXdGdkRrQjRJR291blZTUEs5N2hHV2VrbFE0X0ZRazdDTW1KN09zRWVJa1hqa1Z3QmZ0TXJUWFZkMTJtMG5rUW8zNURBb3lXbHhXdU5jOGJYcUw2WXFL&q=https%3A%2F%2Fthemarkethouse.substack.com%2F&v=de0xxf4-kR0" target="_blank" rel="nofollow">https://themarkethouse.substack.com</a>Connect with us on Twitter: <a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUZZTVljR1p0bExyRVp0MlhkVFlIc2ZHWlBkYXxBTl9pYzRkQmc0ZjlPamd4ZGg5aGkwRkhNcGtUeTFWTkFmMjd4TGlOWFp1cDd3ZEFVbjFhRTNMSGc5OWZRWEctNExqQjcwN2pjYkFFUGV5VTY3ajM5UG0tUWVLa3E2cnhINkZo&q=https%3A%2F%2Fx.com%2Fthe_markethouse&v=de0xxf4-kR0" target="_blank" rel="nofollow">https://x.com/the_markethouse</a> <br></p>