RINF (inflation expectations gauge) is aligned with the view that markets are rotating, not ending. And that rotation, as of now at least, appears to be toward the cyclicals (and commodities). The cyclicals have been targeted by inflationary policy (fiscal & monetary) with economic reflation the goal.
While it is getting hairy out there for the stuff that was winning all through the angst ridden 2020, namely Tech and Growth, this is an indicator that says to at least temper the view that a market correction would be pervasive, taking down everything. TIP/IEF & TIP/TLT ratios tell a similar story.
If these were to tank, it would be everyone out of the pool, away from the punch bowl, what have you. But as you can see, RINF has held its trend thus far.