Wow, the market has become somewhat political, no ? If seems as though politics has trumped (no pun intended) economics here.
Sure it has Wiz, and for good reason. We have no idea what's going to happen. Look at the reality we face as we enter 2020 next month. -The corporate tax rate could possibly be hiked north of 35%+ (40%+ including state). -There are no straight answers on what will happen with the personal income tax brackets. -Healthcare (which is 18% of our GDP!) is anybody's guess and no one has a friggin clue what to do. - Not one mention of Social Security going bust as Boomers are retiring hand over fist while Millennial's need some kind of UBI to ferret out life's meaning as they savor the SBUX they had delivered by an Uber... that was driven by an older Boomer that needs medicine they can't afford. -And oh yeah, lets just forgive $1.5 Trillion in student loan debt, and while we're doing that we can print a few more Trillion/year to rebuild our bridges, roads and airports. And these are only domestic issues. Politics is about choosing our leaders. Its our leaders' job to fix the above and make the system work. Its not happening; its one hot mess. The reality is... the only way the markets will continue to rise is through multiple expansion as what appears to be an unending flow of the world's worthless paper chases a return. And that can certainly continue to happen. So who knows. One thing to keep in mind however... B1S2 has recently declared 'a new bull market'. As loyal ET members all know all too well... if there was ever a red flag... as the old saying goes... "Those who don't learn from history..."
I always wonder if any of this matters. Meaning.. maybe starting this new decade lets shun the fundamentals and political mumbo and trade strictly price!
Come on Zandy, we don't have leaders, we have representatives who unfortunately don't represent us. On a brighter note...LSU crushed the Aggies.
We are close if not there ... I was obviously early a few weeks back. I have always found it easier to identify swing lows than swing highs.
It is amazing how a 1% decline, coming off of all-time highs, and extremely low volatility, gets the bears all whipped up. All I'm saying is don't be the relative that overstays their holiday welcome.
As long as there is range and structure, I don't care about direction. The last several weeks have been comatose.