18 June 2015

SP 500 and NDX Futures Daily Charts - Up, Up and Away

US equities were on a tear today.
Purportedly it was because of the 'better than expected' economic news, but really I think this is just more of the hot money, self-referential technical trading that so characterizes this market.
It is fluffy; its foundations are made of meringue, not stone.
Have a pleasant evening.