Thursday, January 4, 2018
Global Meltup To Meltdown
The narrative is that "global stocks" are at new record highs. Not quite - a handful of markets ex-U.S. are at record highs (UK, Canada, India), but the rest are far below their prior highs...
I just showed the Shanghai Surprise, so here's Hong Kong:
The overnight global melt-up has put a perma-bid under the S&P futures, the likes of which we've never seen before.
Those who believe that the melt-up is just "getting started" are the REAL dumb money coming in at the end...
Posted by Mac10 at 5:24 PM