Today is a Friday, which ends with a “y“, which means another federally guaranteed lifetime high for all equities (except for Tesla, of course). Conquering 5,000 on the S&P seems to have just egged them on.
Thus, for 14 out of the past 15 weeks – – 93.33% of the time – – the market has gone up. That few days of weakness at the start of the year was just a cruel fake out. Can you imagine – – can you IMAGINE – – what kind of chaos would be going on right now if the market was DOWN for 14 of the past 15 weeks? Short-selling would be illegal, that’s for damned sure.
It is eye-popping that, since Halloween, even the most somber of indexes has climbed 25%, and of course plenty of stocks have climbed hundreds of percent. The Fib has lost meaning at this point, so I guess I’ll just drop-kick it.
And it’s not just stocks. ANY asset is blasting higher, for no particular reason. Bitcoin, for instance, is roaring ahead, dragging anything else crypto-related with it.
I was actually supposed to be on a plane today, but a last-minute surprise changed all of that. Thus, I’ll sit here with the rest of you and watch the S&P make its way to 10,000 now.
