You've probably noticed that Rickshaw is largely absent for long stretches of overnight ramps (Rickshaw market), but seems to make his proclamations right about the time it ends... It's understandable though...sentiment is deeply ingrained. It's hard as heck to short a market that has ramped for 6 weeks, just like it was hard as heck to get long a market that looked like it was on the verge of freefall in mid-Feb.
All about "financial engineering" earnings this quarter....amazing what new tactics they use to prop up their earnings .. http://www.cnbc.com/2016/04/11/expect-more-financial-engineering-in-earnings-sp.html
Not enough attention to the US dollar(DXY) weighted index breaking down/out from a 16 month long base with 7 taps. Gold and commoditoes etc doing well. Git some. Some context. March 18 th of 2015 may have been the best single signal day of the year(regime change) with a dovish fed putting DXY into range. All the PA of the following year regarding tightenng talk and the single hike itself results in unimpressive PA. Yellin 2016 has crushed the dollar index. All impresive PA comes from doves and IMO this break is what the world has accepted. Until our schizoid fed changes sentiment again. Oh yeah, look at that yen and euro rally. That may do it.
IMF cuts global growth forecast yet again....how many times is this....2...3...4th time? Yep but central banks are ready for more negative interest rates and pouring more money into the market...
The upsetting thing is that governments & CBs are doing what has never worked in the past & they know it, so they are just hoping for a miracle. And of course lying, whilst expecting voters to be honest.