Dear God… everyone is trying to jinx this market.
Stocktwits launched BTFD t-shirts a few months ago and the markets did not crash.
The Economist now has a cover titled the Bull Market in Everything…
The cover is descriptive of the bull market right now.
Germany is breaking out
Japan is breaking out.
Financials are breaking out.
The Nikkei is breaking out.
Small cap stocks in the USA have broken out.
Bitcoins are back near all-time highs at $4,800. They had crashed to $3,000 just a few weeks ago.
In the auto industry General Motors is breaking out.
Even FRENCH car maker Peugot is breaking out…Mon Dieu!
There are losers for sure…General Electric, Macy’s and Chipotles trade like they only do business in North Korea.
One chart stands out this week though which tempers my excitement about market gains in the next year. We have transitioned from the most hated stock market rally of all time to one where the expectations of good returns next year are at all-time highs…
In this strong tape, I will keep taking setups, but I would not be surprised if the market has a few nasty surprises directly ahead.
Damn you dana for sharing that chart!
Also published on Medium.