Relief rally may not last

D

dealmaker

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr"><a href="https://twitter.com/search?q=$SPX&amp;src=ctag">$SPX</a> April gap filled, NASDAQ gap has not. Could mean the relief rally won&#39;t last <a href="https://t.co/H3ZsFvc8P4">pic.twitter.com/H3ZsFvc8P4</a></p>&mdash; Abigail Doolittle (@TheChartress) <a href="
https://twitter.com/x/status/865228609992228864
">May 18, 2017</a></blockquote>
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dealmaker said:
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr"><a href="https://twitter.com/search?q=$SPX&amp;src=ctag">$SPX</a> April gap filled, NASDAQ gap has not. Could mean the relief rally won&#39;t last <a href="https://t.co/H3ZsFvc8P4">pic.twitter.com/H3ZsFvc8P4</a></p>&mdash; Abigail Doolittle (@TheChartress) <a href="
https://twitter.com/x/status/865228609992228864
">May 18, 2017</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
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What was the "relief" due to ? :) Passing a kidney stone?

The market fell allegedly due to Trump worries, impeachment and the sundry other things we are seeing in the spectacle that is now Washington DC. Did things change overnight such that the rally into expiry was a "relief" ? Think it was more the DIA (which i trade a lot) sort of covered (one of) the open gaps below and then apparently rallied at and near the prices from Wednesday.

Frankly I can't figure out half the time what is moving this market higher every day, every month. Didn't Martin Zweig always say "don't fight the Fed." Of course the Fed seem like wimps operating more from fear of being wrong rather than acting decisively. That said aren't we due for another rate increase son?

If so what happened to the "markets look ahead 3-6 months"? Has all that changed to a new (but really old) paradigm, since there are once again(like back in late 1990s/2000-2001 and 2006-7), an abundance of gunslingers in the markets who have been pavlov-ed into believing that higher is the only move for the indexes, ad infinitum. We will never see another large 10-15% correction, ever!

Yet it seems like this sentiment creates an environment ripe for such a large correction, sooner than later (and not just a few-hundred-point-dips).

I'm probably missing something that all the super-bullish, hyperboleists see; and i don't so much:)
 
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I think most "in-depth" stories on Bloomberg are missing true insight... astonishing really... I have not come across a decent trading story on there....

Those journalists/analysts are crackpots...
 
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