Well, once again…………
The market had been breaking down nicely, but China threw billions upon billions of yuan at the slight weakness in their market and made everything all better again for the bulls. Plus, here in the U.S., people have embraced the notion that cutting taxes for rich people will make a country over $20 trillion in debt prosper like never before.
Chart after chart shows the same thing – – a weakening market whose weakness was utterly aborted with today’s bull-gasm:
The red arrow indicates where things “should” have gone in a normal market. Take note of the massive green bar that took its place instead. Here are the mid-caps:
And the same, of course, is true with the Dow 30.
Setting aside all the charts, tax news, and government interference……..we all know who the REAL culprit is: