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This story initially appeared on ValueWalk
Friday‘s nice run gave solution to yesterday‘s consolidation, and inventory bulls seem in want of extra earlier than taking out the psychological 4,000 mark. The Archegos crash isn‘t inflicting contagion fears the best way GameStop in late Jan did. The present volatility and put/name ratio merely doesn‘t mirror that.
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The theme continues to be one in every of reflation – whereas inflation expectations are rising, and so are the inflation knowledge for many who care to look at them carefully sufficient, true inflation isn‘t but right here with us. Markets are merely transitioning to a better inflation atmosphere already, not shopping for the Fed‘s transitory clarification. Commodities are basing on the conquered ranges earlier than one other run increased.
Make no mistake although, the present S&P 500 upswing is