Stocks will start the week slightly down.
However, in the intermediate term, it is now clear that the markets are bubbling up. We are seeing clear signals of market mania everywhere.
1) Dogecoin, a crypto currency that was started as a joke, rose 520% last week.
2) A man recently sold a Non-Fungible Toke (NFT) of a fart for $85.
3) Penny stock trading volume has exploded by 2,000%.
4) Individual investors have begun day trading in ways not seen since the Tech Bubble.
And why are the markets bubbling?
Because the Fed has unleashed inflation. Year to date, the price of copper, gasoline, lumber, heck the entire commodity complex, are up double digits.