The Longest Bullshit Market In History

Tech overweight has pushed the S&P 500 within reach of new highs, while the average stock is imploding. These are the greatest divergences we've ever seen near a new all time high. This bullshit market is approaching the longest in history, this month, as it is approaching the Y2K endgame. What could be more bullish than that?

"In less than three weeks, the current bull market will rank as the longest of all time, eclipsing the climb that spanned most of the 1990s"

Some people are already popping the champagne corks:

"It’s official: The U.S. stock market’s early-2018 correction has now been completely erased...we can no longer debate whether the January stock market highs represented the end of the bull market. It most certainly did not"

This as judged by the dividend-adjusted Wilshire 5000 index"

Any questions?

Herein lies the problem, ex-mega cap Tech,  global stocks and even most U.S. stocks are nowhere near new highs:

Here is where it gets interesting...

A Techtonic shift is already underway. I know...

"Realize you're no longer going to own Facebook and Google in XLK...The reshuffling begins on Sept. 21. But the ETF industry is already taking steps to reflect the change."

Furthermore...

"The Technology Sector SPDR Fund (XLK) currently has $22.7 billion in assets under management. The Consumer Discretionary Select Sector SPDR (XLY) has $13.9 billion in AUM. By contrast, the new Comm Services ETF (XLC) has just $365 million."

Be prepared to hear a lot of "this must be the top in Tech"

Ok