Risk is bid because Kentucky Fried denialists are happy they can still find Florida on the map today. To say that the bar is low is an understatement...
"I could get used to this"
The inconvenient truth is that Skynet planned to fill last Tuesday's gap all along and the futures waited patiently from the open last night until the casino opened this morning:
Closed the last gap above, by opening a bigger one below:
Speaking of rampant bullshit, recall that in 2015, the second largest economy was imploding along with its currency. Now it's the largest economy along with its currency:
World's largest oil company
Largest U.S. Industrial company
Second largest bank
The other inconvenient reality is that USDJPY is backtesting its breakdown line:
No stoned zombie has seen this movie before...
Doh!
As long as they keep buying Chinese internet stocks, this will all be fine...
Skepticism has been a long-lived feature of what has often been dubbed the “most hated” bull market in history.
Per Goldman’s data, 3.2% of mutual fund assets are currently held in cash, a normal level
"there are positive trends that continue to support the market. Notably, in Goldman’s estimation, the continuing strength of the U.S. consumer"
Store Closings Have Tripled This Year
The worst year ever for store closings was 2008 during the Great Recession, when Credit Suisse counted 6,163 closings. But 2017 is poised to easily surpass that.
