Well, that sucked out loud. Just when it seemed like the equity bears might have a tiny fighting chance of stringing together two or three good days, blammo, Trump’s speech is a hit and everyone goes ape buying stocks. Quite a sight to behold.
All the same, I’d like to offer up the VIX to illustrate that these periods of doe-eyed giddiness have always, even in this insane market, ended in tears. It’s just a matter of time.