sp'60min
Summary
Remember all the talk about how sp'1897 was a key high...ohh, then but it became 1902...that would be the top.
...and here we are...still pushing upward. This is of course especially impressive considering the latest key GDP print of -1.0%.
On any basis..the market should have been smacked lower by such a large miss - even below expectations of -0.5%.
Just a year or so ago, the market would have been whacked sharply lower on such bad data..but no..not in this 'new normal'.
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* I remain content on the sidelines. I'll be tempted to launch a major index short around the next FOMC of June'18.
more later..on the VIX