LIQUIDITY IS NOT ONE THING. AND THE MARKET KNOWS IT.
Every cycle, the same error repeats: a single word — liquidity
ZTRADER RESEARCH · MACRO STRUCTURE
Every cycle, the same error repeats: a single word — liquidity — absorbs blame for rallies, crashes, rotations, and divergences that require entirely different explanations.
The error is not pure laziness.
It is a misreading of how capital actually moves.
I. THE WORD THAT BREAKS ANALYSIS
When gold falls, analysts blame li…
