Note from Tim: In case it isn’t screamingly obvious, I did not write this post.
Many will simply read the headline to this article, and use it as support for their belief in the market striking a multi-year top right now. I mean, aren’t headlines like this proof that the market is overheated?
Well, the answer is a definite “sometimes.” You see, back in 2015 and 2016 I was writing articles with headlines saying that we are going to target the 2500SPX region. And, if you thought that those headlines were portending the end of the bull market, then you were clearly wrong. So, consider, maybe this headline is prescient rather than a contrarian signal.
One honestly should not be able to put down a straight arrow and cross every single trading day. No market should be that regular. No market should be that predictable, unless you’re talking about a passbook savings account. However………….
Retail continues to perform nicely for the one bear left on this entire planet. Chico’s, for instance – – purveyor of threads to women of a certain age – – is the gift that keeps on giving.
Every morning of the year, 365 times in a row, my first thought when I wake up is: what should I write about? Sometimes it’s easy, sometimes it’s hard, and sometimes I’ve got plenty of posts in the hopper and I don’t even need to bother. But this morning, facing the ninety-second day in a row of everything up a tenth of percent, I seriously can’t squeeze anything out to say about this confounded boring market we’re in. So, screw it, I’ll talk about something that happened yesterday that has nothing to do with this idiotic “market” we’ve been given.
Here’s the topic: