This morning I see a market faceoff between the Liquidity Bulls and the Media (Ukraine-Interest Rate) Bears. History says, don’t sell a quiet market. Does that mean you should be a buyer? Watch closely.
My take, sometime in the next two years, embedded inflation will force the Fed to do something other than scare the stock market and eventually attack the basic core excess two + trillion of the balance sheet.
Markets like this, trading in a measure of confusion, need to have a velocity generator. To me that means measuring which side of the equation gets overbuilt, will it be the Bears or the Bulls. Then the market will tear down the overbuilt sector.
Be patient would be my view.