Since there always has to be some presumed reason to explain market action, this morning the headlines blared that the “debt ceiling deal” was the cause for all the green. Ah, yes, the debt ceiling, which for years has simply been increased every single time Congress has needed it to:
And, thus, with this prudent measure in mind, the citizens of the U.S. have been spared reckless deficits:
I honestly don’t know why they waste the digital ink on such nonsense. Anyway, the ES and NQ are both up as I am typing this, although I’d like to point out that the trend recently has been a series of “surge and purge”, resulting in steadily lower highs.
