Jay Powell has been a generous God. Count your blessings under his reign.
Powell’s policies of spending your future tax dollars to protect the banking system have created a historic windfall for those closest to the Fed machinery.
I highly recommend that you read up on the Cantillon Effect. It’s been a hot topic lately for good reason.
Brief update after reviewing charts on this watchlist:
Today was a strong sign of the top breaking in a few charts. Confirmation is not in but I expect it soon. I posted this on July 8th:
I have no position in SPY but if I were long I would sell 25% of my position on this cross as a defensive measure and move my stop loss for the rest to the bottom of the Cloud (~$3,000). This Index signal coincides with many new all time highs for individual stocks. However, as I run through my stock screens I also see many double and triple tops and other less visible stocks showing more bearish indications.https://www.coinspeak.io/2020/07/08/spy-ing-a-trend/
Personally, I’ve felt this market has been a farce for a couple years and I’ve called it pretty well so far. From January 2018:
Still, my feelings mean little in the markets. I’m looking to the charts for confirmation as the charts are my guru. This market has defied logic and until it reverses the trend is your friend. However, I am seeing the first signs of that reversal now.
Use that information as you wish.