Well, stocks are back at all-time highs. Ignited by the Fed’s “Not-QE” program and endless Trump administration teases of an “imminent” China deal, the S&P 500 has been propelled above its upward Bollinger band — a hyperextension only seen one other time since 2007.
Every week since Not-QE was announced has seen the S&P close green (this week finally ending the streak, barely). We’re officially in a melt-up, where both good news and bad news are accepted as valid reasons to push stocks even higher.
But what’s notable about this melt-up is that it’s missing a compelling narrative. Every past asset price mania required a feel-good mantra that convinced the masses “This time is different!”.
But today? What’s the radically better future being promised? Where’s the party train headed to?
Eric Hunsader: The Financial System is ‘Absolutely, Positively Rigged’
IgorKaparis: 42 mins ago
Step over here, please....
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thatchmo: 4 hours ago
t-shirt idea for going through security
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Quercus bicolor: 9 hours ago
it's wired in
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ao: 9 hours ago
Irrational decisions vs rational decisions
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MKI: 10 hours ago
Zoltan's Market Repo Market Prediction
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sand_puppy: 11 hours ago
Venn Diagram of Point in History (humor)
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sand_puppy: 11 hours ago
And bicycles!!
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sand_puppy: 11 hours ago
Sharks
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Adam Taggart: 12 hours ago
Since 'Terrorism' falls between 'Dogs' and 'Snakes'...
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Boomer41: 12 hours ago