One image says it all…………
No volatility. No volume. Just up every day either half a percent or a whole percent, depending on what the darts at the Fed do.
The poster child for this wildness is, to my mind, Tesla. It may seem hard to believe, but only 14 months ago, it was a $175 stock. It has gone up 1200% in 14 months based on………….zeal. Nothing else.
The market seems utterly unbreakable at this point. When it does break – – in a day, a week, a month, or a decade – – whenever the Fed loses control – – never will so much shit hit so many fans at the same time.
In the meanwhile…………..it’s the sleep of reason.
Incidentally, I just finished editing TNRevolution’s epic post, and it’s fantastic. I think I might set aside my own “almost epic” post for Monday and have his up for most of Sunday, because it’s really outstanding.