Anyone paying attention knows that the equity markets have been on a tear ever since the election. On that fateful night of the election, the Dow Futures contract was down well over 1,000 points in overnight trading. Once there was no follow through, equity prices leaped higher. It pays to be a skeptic of conventional thinking concerning macroeconomic and political factors. It is interesting how markets often keep the majority of active investors off-balance and on the back foot. As time went on, market commentators kept telling us that the rally was overdone and that a correction is due at any moment. After each jump is share prices, the calls for a correction became louder and louder. At the end of the day, it is the trend that matters on a short-term basis and revenues and profits that matter on a long-term basis. is often wrong Market action the past few days has simply been weird.
