Those who have been wrong, will continue to be wrong.
There is no middle ground in this market. It is a winner take all type of market cycle that will fail to provide any type of reversion to the mean typically associated with normal price environments.
In fact, what gold is telling us more than anything else is not so much that WW3 will breakout tomorrow or that inflation is going to double digits by year end.
Rather, what gold is telling investors is that asset volatility is set to go parabolic as those who hold assets seek reprieve from central bank policy gone wrong.
The only place to be granted reprieve is through aggressive asset allocation in the two asset classes that have been ahead of the central bank devaluation curve for more than a decade: Crypto and Growth Stocks.
The recent vertical move in gold is the market saying, "you think asset volatility in recent years has been dramatic, well you haven't seen anything yet."
The direction of gold is telling investors that the assets will continue to inflate, whether crypto, growth equities, precious metals and to a lesser degree real estate.
This weekend's 14 page note goes over the various scenarios involving the current technical structure of the market and how Q1 earnings to be released during the latter half of April play into the overall pattern. To a greater extent, taking a more zoomed out view, the targets for the major indices for the remainder of 2024 are anything but traditional or standard in scope.
Rarefied air is the only description being fit.
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