I continue to wonder what people are so angry about, exclaims JC Parets of AllStarCharts.com.
More and more stocks keep going up. Fewer and fewer are going down. More sectors are participating. More countries are acting strong. So, what’s the problem, as this is nothing new? Now that the Dow Jones Industrial Average is up over 20%, you’ll get a slew of those stupid articles crowning the number 20 as some sort of magic signal. Few things are dumber.
Let’s focus on what’s important here. What has the catalyst been? For the 297th time, it’s the US Dollar. The Stock Market continues to prove just how important a weaker Dollar is to this Bull Market. Look at S&Ps overlaid with Emerging Market Currencies:
Those who continue to fight this trend are paying the price. They are both missing out on winning opportunities in stocks and losing money in their shorts. I wasn’t a math major, but that doesn’t sound like a profitable strategy to me. We follow trends around here. We don’t fight them. Price leads. The “news” comes later.
To learn more about J.C. Parets, please visit AllStarCharts.com.