Second Wave!

Not only in omnicron

Dec. 9, I wrote “The tape is as bad as it gets”

What changed?

Almost nothing. The rally attempts look like bear market rallies.
New leaders emerged only in $XLRE, $XLP $XLU, yes, but those are typical for a risk off inflation tape.

On the political side I wrote that the further deficit spending is most likely not to happen due to the high inflation: We got…