Zooming out we can see this Fib Channel taking us from a pre-pandemic bottom to a 2nd attempt double-top in Nov-21.
There is a lot of liquidity that needs to get eaten up in the Red Zone shown --- still zero reason to be bullish right now.
WTI and other hot Commodities are about to skyrocket and all the news outlets are blaming the EU Crude Oil Embargo that went into effect Monday from Russia + the Russian/Ukrainian war --- this is only PART of the story. Don't get it twisted. Inflation on a Global scale takes YEARS to smooth and recover.
Biden's stimulus funding was a LOT of cash. Most Gen Z'ers and Millennials do not realize how much $5 trillion is --- that went to households, mom-and-pop shops, restaurants, airlines, hospitals, local governments, schools and other institutions around the country grappling with the blow inflicted by Covid-19.
Economists largely credit these financial jolts with helping the U.S. economy recover more quickly than it otherwise would have from the largest downturn since the Great Depression: The pandemic recession was the shortest on record, lasting only three months.
Equities are RISK OFF right now, Commodities are RISK ON. Believe it.
There is a lot of liquidity that needs to get eaten up in the Red Zone shown --- still zero reason to be bullish right now.
WTI and other hot Commodities are about to skyrocket and all the news outlets are blaming the EU Crude Oil Embargo that went into effect Monday from Russia + the Russian/Ukrainian war --- this is only PART of the story. Don't get it twisted. Inflation on a Global scale takes YEARS to smooth and recover.
Biden's stimulus funding was a LOT of cash. Most Gen Z'ers and Millennials do not realize how much $5 trillion is --- that went to households, mom-and-pop shops, restaurants, airlines, hospitals, local governments, schools and other institutions around the country grappling with the blow inflicted by Covid-19.
Economists largely credit these financial jolts with helping the U.S. economy recover more quickly than it otherwise would have from the largest downturn since the Great Depression: The pandemic recession was the shortest on record, lasting only three months.
Equities are RISK OFF right now, Commodities are RISK ON. Believe it.