The bear market rally isn’t quite over yet…
I’m not one for fundamentals but in the current market environment that doesn’t matter since there are none other than the FED throwing in a couple of trillion dollars to replace a bubble that burst with yet another bubble.
A couple of trillion dollars…and not even going to the small businesses and everyday people who need it most (and can spend it to fuel a recovery) as an incompetent businessman slash so called President goes on babbling about what a good job he’s done killing 70,000 Americans so far and sinking the entire economy while blaming everyone and everything else for his personal incompetence. Up until now Herbert Hoover was the biggest historical disaster of a President in the last 100 years, but Donny Trump who brags about being best at everything may be only best at this.
So if you’re long-term investor and you are not selling into this good-luck rally, all I can say for the longer term is “good luck.”
However, NYSI is still rising and the NYMO, which is so far pulling back, probably needs to hiccup to one more high below a high before this is done.
That hiccup appears to have begun as today’s general market price action climbed out of the today’s opening gap down to finish positive.
The tweet Friday:
— The God of Trading (@TheGodOfTrading) May 2, 2020