In Equities:

With sentiment firmly cautious the major indices grind to a fork in the road, teetering on the edge of price action in either direction. What lurks on the horizon? The prospect of a crack up in the Chinese economy presaged by the implosion of real estate firm Evergrande. A soft taper so well telegraphed by the Fed that policy in the West couldn't possibly be a surprise. And a general spirit of caution in the markets that suggests...surely a correction must be coming? No one knows for sure.

In the interest of a selective trade, we turn to traditional Energy (XLE), a sector so badly drubbed by talk of electric vehicles, the carbon future and the death of fossil fuels that it starts to look appetizing. But is it a proper value trade or a value trap? We think oil and gas might be due for a final moment in the sun. But not content to go long in conventional fashion, we look at ERX (2x leveraged XLE).

In Crypto:

With the majors Bitcoin and Ethereum in consolidation, we broaden our exposure to Crypto with a host of dubious alternative tokens. Each more ridiculous sounding than the next:

1) Internet Computer (ICP)
2) Axie Infinity (AXS)
3) Chiliz (CHZ)
4) Polkadot (DOT)

Charts:

XLE (Energy Index)
https://www.tradingview.com/x/gNzNMjcu/
ERX (2x leverage bull Energy Index)
https://www.tradingview.com/x/ml3sxVk4/