This week must answer the question: consolidation or correction?

No slide deck today, but here is a link to today's Saxo Market Quick Take: https://bit.ly/3BryzpZ   -  Last week ended on a sour note and today we pick up the pieces and have a look at next key levels for the major indices, noting that Japan's Nikkei 225 is already challenging critical levels, while the US correction thus far is only just now reaching the first important levels, below which the situation becomes more serious. At issue seems to be a general concern with the status of the "reflation trade" and the degree to which the Covid resurgence is clouding the outlook. John J. Hardy hosts today's pod and wraps up the market action, and highlights the key earnings and macro calendar event risks this week. Intro and outro music by AShamaluevMusic