I do note the parallel in the patterns on the upward sloping charts... between the Covid expansion that seems it is occurring, if very early days... with the near end of the monthly chart of OIL that I posted, today...
Should note, I am short in that trade now... even while sold on the inflation narrative... and fully on board with the idea that oil will outperform gold under inflation...
The Covid hockey stick chart... is still one that would be only a small nub on a bigger scale chart... while the OIL hockey stick chart... is as large a scale chart as might be useful...
But, both of those hockey sticks are unlikely to be sustained in parallel for very long ?
Anecdotally... I did note a "wobble in the force" this week... that I don't really know what to make of yet...
Traffic in my locale, has been... busy... things have been humming... And, I have been busy... so have visited the fast food places more, recently. than is useful for anything other than calorie loading...
Early in the week... Monday was busy, busy... big line at the fast food place, late... took a long time...
Yesterday... dead... I drove right up... only one there... and it took only a minute...
And, not just there... the streets were quiet...
And, I don't know why... The markets maybe cracking... but that not likely a concern for others here...
There's no news on any new lockdowns... and inflation didn't scare them off the streets...
But, perhaps people are acting without having to be told... to throttle back risks...
The "Delta" being announced as a risk for those vaccinated... changing their behavior by itself ?
So, a time for caution perhaps... although I think the charts are not well primed for a "market event" right now.... we've done a couple of "one day and done" stabs at badd days in the market...
But, they're not letting that happen...
Not sneaking up on anyone now, the way it did back in 2020...
Mixed market messages, now... being mixed like a custom shade at the paint store... |
