Watch your wallet going forward. The CPC is printing multi-year lows confirming the rampant complacency and fearlessness in the stock market. The bullish euphoria is at multi-year highs as occurs during significant stock market tops. Every day is one big par-tay. Even the bears are bullish. The Uber driver, shoeshine boy, doorman, taxi cab driver, barista, and investing club ran by 80-year old women, are throwing money at the stock market with both fists. Everybody and his brother are worried they are missing out on the opportunity of a lifetime. It always ends in tears. There's a Tear in My Beer. Hank Junior and Senior.
If you are a novice long-only trader, get yourself out, take your profits, and take the summer off. Anyone long now needs to be hedging and bringing on shorts going forward.
The charts are also set up with, or in the process, of topping out with negative divergence. All the stars are aligning. The semiconductor yearnings in recent days have buoyed stocks but the obvious pumper-in-chief is King Donnie Trumpski. Equities track according to the words coming out of the orange mouth and this cheerleading with happy Iran War talk is what is keeping the stock market turd afloat in recent days.
Plan accordingly. There is a Bad Moon Rising. Urban legend says John and the CCR boys were playing a bar gig and a man in the audience stood up and looked confused. John sings "a bad moon's on the rise," but when he saw the confused man he sang, "the bathroom's on the right." 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.
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