Play An Accordion: Go to Jail

By -

That’s the law.

OK, maybe not (unless you take all your legal counsel from bumper stickers). But there does seem to be one market law these days, which is that on those rare occasions when selling is allowed to take place, the S&P 500 shall go NO LOWER than its 200-day exponential moving average. Keep this mind if this goddamned equity market every stops going up every single day.