NFTRH+; ‘Inflation trade’ indicator updated

Not a good look here by the Canadian TSX-V (daily chart). To review, da ‘V’ would be indicative of life in the more speculative areas of the inflation trades, and it would be a positive signal for the whole raft of inflation trades (commodities, resources, their producers, emerging markets, etc.). Today it is fading the 50 and 200 day moving averages.

TSX-V never did exit its downtrend but it is also above long-term support. So its fade back below the moving averages could be as simple as the Powell jawbone in effect this week. But the burden is on da V to prove bullish, not the other way around because the existing trend is down.

Here’s the weekly chart showing very important support, for reference. The patience required for this macro phase really is one for the books.