Volatility has taken a pounding this week and looks poised to head even lower. That implies that the nearly relentless rally of the broad averages is likely to continue at least for a little while before buyers take a breather. The good news, if you believe stocks need a reality check now and then, is that a promising target in VXX, an index that tracks short-term S&P volatility, could bottom as early as Friday. Check out the chart in the inset to see why.
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Persons are beside themselves.
Tweeting the ‘forever stock market’:
https://twitter.com/RyanDetrick?lang=en
“NYSE AD line continues to suggest the bull market is alive and well?! This is a broad based advance that isn’t just on a peg leg, plenty of support under the surface.”
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52% of the NYSE consists of non-stock investments.
Observing the -!ADLINENYSE chart from 1944 on the tweet is something to behold, as just how ‘sentiment’ of the forever enduring Bull Market will never die.
Have a great weekend Rick!!