MacroVoices Erik Townsend &amp; Patrick Ceresna welcome, Larry McDonald. They discuss what’s driven this sell-off, whether the Iran conflict had anything to do with it, and where the opportunities lie in today’s markets. https://bit.ly/4ebDAHe 🔻Download Big Picture Trading Chartbook 📈📉: https://bit.ly/4eeE8fp ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX 🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna 🔴 Subscribe to Erik&#x27;s Substack: https://eriktownsend.substack.com/

MacroVoices #536 Larry Mcdonald: The Migration is Upon us

Macro Voices

This is Macro Voices, the free weekly financial podcast targeting professional finance, high net worth individuals, family offices and other sophisticated investors. Macro Voices is all about the brightest minds in the world of finance and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are your hosts, Erik Townsend and Patrick Ceresna.

Macro Voices episode 536 was produced on June 11, 2026. I'm Erik Townsend. The Strait of Hormuz crisis escalated this week with President Trump's anticipated signing of a peace deal early this week now a forgotten memory. Meanwhile, the stock market took an abrupt turn lower last Friday and the selling continued on Tuesday and Wednesday of this week.

Is this just a routine pullback to the 50-day moving average or is it the start of something much bigger? To try to answer that question and several more, we're bringing back best-selling author and Bear Traps Report founder Larry McDonald as this week's feature interview guest. Larry and I will discuss what's driven this sell-off, whether the Iran conflict had anything to do with it, and where the opportunities lie in today's markets.

Then be sure to stay tuned for our post-game segment for Patrick's Trade of the Week and our usual coverage of all the markets. And I'm Patrick Ceresna with the Macro Scoreboard week over week as of the close of Wednesday, June 10, 2026. The S&P 500 index down 379 basis points trading at 72.67. We are seeing the first cracks in this bull advance as we're now testing the 50-day moving average.

MacroVoices #536 Larry Mcdonald: The Migration is Upon us

Read the full transcript

The candid version is on a podcast,
not the earnings call.

MacroVoices #536 Larry Mcdonald: The Migration is Upon us

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.