Deception
The bulls versus the bears is on and the bulls are winning.
They have an ace in their corner: the Fed and the rest of the central banks.
In 2018, the Fed turned away from a dovish position and it blew up on them. For the better part of a decade, sans that brief misstep, the Fed was a dove. This led to the market running full steam ahead.
2019 is no different. The Fed is now dovish and that is not going to change. This will set the bulls on another rampage which took place since the end of the year. Liquidity is what matters.
We see major divergence which means nothing, at least until it means something. The bulls will stand by this until it breaks. Then it could be very painful.
The bears need to make their case. Until they do, it is a party for the bulls.
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SPX seems little fake. There can remove firms, which go down for some, which are growing. And with inflation money, y can create neverending fake grow.
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