It was precisely one month ago that we were all waking up to Trump World, as the results confirmed that President Pantsuit was not to be. The ES and NQ had been limit down earlier in the session, and although the losses had abated somewhat, it seemed that equities were ready to be sold off en masse to the shocking political news.
Even those who have been hiding under rocks or in caves are well aware what has actually happened in the ensuing month: records highs across the board, with this week in particular laying waste to anyone insane enough not to embrace one of the most expensive markets in history. So strong has been the rally that many of my lovingly-drawn trendlines have been shattered, such as this one of the Dow 30 going back for decades……….
My opinion? I’m in a fetal position in a corner, rocking back and forth.