See right there it says almost everyday markets are driven by central banks....tells you that there is zero risk in the market. The S&P 500 advanced to touch a new intraday high at 2,117.99.The Nasdaq closed positive at 15-year highs for its 10th consecutive day of gains."Almost every day markets are driven by central bank policy, whether it's the Fed, the ECB, Bank of Japan," said Peter Boockvar, chief market analyst at The Lindsey Group. "Economic fundamentals have not been dragging markets down. It's another day of 'Yellen is noncommittal, therefore buy stocks.'"Yellen's prepared remarks said no rate hike is expected for the next few FOMC meetings. She later said in a question-and-answer session that the Fed would not raise rates before it found confidence in the economic recovery, overcoming current concerns about the labor market, below-objective inflation and the decline in energy prices."Once again, Ms. Yellen seems to be trying extremely hard to persuade investors and market participants that, while an inevitable increase in interest rates is likely to happen, when it does it should not take anyone by surprise. In addition, when the Fed moves, it will not be substantial," Andrew Wilkinson, chief market analyst at Interactive Brokers, said in a note.
noun: helix; plural noun: helices 1. an object having a three-dimensional shape like that of a wire wound uniformly in a single layer around a cylinder or cone, as in a corkscrew or spiral staircase. Geometry a curve on a conical or cylindrical surface which would become a straight line if the surface were unrolled into a plane. Biochemistry an extended spiral chain of atoms in a protein, nucleic acid, or other polymeric molecule. Architecture a spiral ornament.
Lets see how long it takes to prop up the market this morning...last week it didn't take long to erase that 100 point drop in the Dow.
Well I bought back when SPY was -20bps...shocking move. Now Nasdaq CB adjusted fair value is 5k. Time to BTFD.