Do indicators still matter post-pandemic, or is it all narratives?

It feels increasingly like the old playbooks are breaking. We obsess over CPI, NFP, GDP, but then a new narrative takes hold—AI, geopolitics, whatever—and price action goes completely counter to what the indicators might suggest. We saw it with $USLV today, a decent move, but does it really reflect underlying economic strength or just a liquidity rotation into perceived safe havens? Meanwhile, $TOP continues its grind down, seemingly immune to any positive data.

Are we overemphasizing these traditional data points? Or are they just lagging by so much that their utility for short to medium-term trading decisions is diminished? Change my mind.