The stock market gaps higher at the Friday, 11/1/19, opening bell. The SPX jumps from 3037 to 3051 in a heartbeat; a quick 14 points and record highs. The S&P 500 continues enjoying new record highs into 10 AM EST. Stocks trail off to digest the market joy but rally again on happy US-China trade talk this time from the communist side. Price makes a new all-time high before 2 PM EST.
The SPX then attempts to print another record high at 3:40 PM EST but fails. However, in the very last minute of trading, at 3:59 PM EST, the SPX is juiced by 5 points to create the new all-time record high at 3066.95 and all-time closing high at 3066.91 and a joyous vibe into the weekend. The record-setting numbers give the headline writers something to place at the top of newspaper pages and web sites. Most importantly, it keeps Joe Sixpack and Jane Naive wanting to buy stocks that the smart money is very happy to pass along. Every top needs the bagholdin' sucka's.
The put/call ratios are at uber lows signaling rampant and out-of-hand complacency and fearlessness so a stock market top is expected at any time. These are epic times in stock market history. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added Monday Morning, 11/4/19, at 4:18 AM EST: Overnight, US Commerce Secretary Wilbur Ross is opining optimistically about a US-China trade deal. S&P futures pop +12 as traders on the East Coast rise from slumber. The phase one trade deal looks like it is on tap for this month. VIX 12.63. The S&P 500 is set to print more new all-time record highs.
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