Once again, while semiconductors roared to new highs, Transportation as seen through IYT the ETF, sold off.
Retail XRT closed marginally green after better than expected consumer confidence data.
Regional Banks fell closer to the critical levels of support.
Biotech had a bad day as well.
And Bitcoin is also back testing criticial support.
This is leaving a very bad taste in the mouth of astute investors.
However, it is also proving that stagflation, currently a grossly underused word, is becoming ever more present.
Wheat is just the latest example of a commodity making a move up in the face of geopolitics and weather.
This is with gold, silver, copper, natural gas, oil and uranium all closing green.
To hear more about this, check out the media links below-both Friday’s Real Vision interview and the interview Mish did with Charles Payne on Making Money with Charles Payne Fox Business speak more about the oncoming inflation storm.
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
