With the exception of the big dip late last year that the Fed turned into a sharp V bottom, US stocks have been riding an upbroken uptrend fueled by Fed QE stimulus since 2012.
So before you start shorting the market ahead of a failure, think hard about that and keep an eye on the trendlines.
There is no doubt in my mind that we are in an asset bubble. How it resolves will probably be rather ugly, but the timing of this is highly problematic with most of the world's Western central banks pumping liquidity into the banking system and the equity markets.
Non-Farm Payrolls tomorrow. The expected number is around 218,000. I have highlighted all the key numbers in the economic calendar below.
Have a pleasant evening.
