The Waiting Is the Work

A few weeks back we wrote about why this macro environment is all to similar to late 2020. And hust because we have seen a little volatility in markets since then does not change our view.

In fact in light of recent events our view is only solidifying. We know that cycles are only as good as the underlying conditions that make them work.

And just at the end of last week we saw the Trump administration announce 50 year mortgages and a potential stimulus check although we are not sure exactly what that will look like.

But the bottom line is that people aren’t seeing the forrest right now, they are only looking at the trees.

The major reason for that is what I covered on Friday. Its been a brutally dull year in this market and its ending on a final correction that has people at their wits in.

Fair enough, its a tough tough mental game to survive a directionless year like we have had. In my opinion its the toughest type of market to be in.

That said its extremely important to zoom out and get the facts.

So lets look into some charts that tell the story a little bit better.