The S&P 500 is moving seriously further into all time high territory this morning -- thing is, nobody's seriously buying it (literally), at least not yet. Meaning there's virtually no volume; as I type about half the average number of shares have traded so far for this time of day.
So, basically, it's that -- despite loft levels, lofty valuations, sketchy technicals, waning fundamentals, etc., -- everybody's just kinda hanging in there this morning. I.e., a few buyers running into stingy sellers.
You wondering why?
Well, here's the headline:
And here's the tweet:
No way any short-term trader in his/her right mind would sell ahead of that!
If you're not a short-term trader, and looking for something perhaps more substantive, here are our last two video commentaries:
A Quick Look At General Conditions
Legitimate Trade Optimism, What Lies Beneath, And How Our Hedge Plays Out