The Dow, the SPY, and the QQQ all hit new all-time highs up another +.75% on average and look frothy. Emerging markets and precious metals broke out of classic chart patterns to the upside and look poised for more. The big question confronting the markets is whether the Federal Reserve and the Central Banks of the world are losing control and the next phase is an inflationary spiral. This, of course, would at some point
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