Over the course of just fourteen trading days, the market has added thousands of points to the Dow and hundreds of points to the S&P 500, virtually without interruption:
While at the same time crushing volatility by 50%:
And it did all of this during:
- the most prolonged government shutdown in history;
- absolutely no reason to believe the shutdown will end in the near future;
- dismal economic data globally;
- earnings that can best be described as ho-hum;
- absolutely zero progress in a China Trade War whose “trade truce” is already half over.
I shudder to think of how high the market would be with GOOD news.
Here are some of the big cash indexes; as you can see, they are all “re-connecting” with major drawn objects as well as important moving averages.
I fear if we get much more of this market strength, I may lose my sunny disposition.