If you’re bearish, you should probably be tearing your hair out right now.
This market is simply on a ridiculous rally, and we have yet to see any sign that bad news will derail the market.
Take today. Stocks were lower before the big data dump at 8:30, and the numbers generally were pretty stagflationary. Retail sales in December missed big and retailers still don’t have any pricing power.
And yet, stocks are higher than they were before the numbers came out.
We’ve seen this over and over again, too, notably in the financial sector, where no headline risk can knock stocks like Bank of America. And that Chinese rate hike everyone’s talking about? Nobody actually cares in the market here.
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