GE marked the top in 2007 and it would have marked the top in this cycle, except the big, fat, ugly bubble had to get much bigger first. Therefore the oldest stock in the Dow was removed, so everyone agrees that the real economy has now been replaced by mass delusion...
What history will say about the Banana Republican party:
Two years ago this week Trump warned what would happen to the stock market bubble if the Yellen Fed raised rates "even a little bit".
It would come crashing down.
Now, two years later, the Trump-appointed Fed is deflating that same bubble by tightening both the long end and the short end at the same time, while Trump cheers from the sidelines. Because not only are men capable of inflating far larger bubbles than women, but they're also capable of making them indefinitely sustainable.
How? By filling them with an incessant flow of hot air. How else?
New all time casino highs while the net number of (NYSE) stocks making new highs is negative. Can't say I've seen that before. I only looked back 20 years though...
The problem of large numbers of simultaneous highs and lows is much bigger on the Nasdaq:
And to replace GE, they they put a fucking drug store in the Dow. What else?
"We were reconfiguring the Dow to include more drugs after that I don't remember what happened"
"Who wants more Kool-Aid?"
This will be the greatest loss of capital in human history, without any relevant comparison
