The banks have the ability to determine much of what's real and what's phony, more than any other group.
Powell and Mnuchin have created a bubble in their response to the Covid-19 crisis. It's difficult to see one when inside one.
While every recession is different, here's what could be in store for jobs, interest rates, the Fed and stocks.
What if the market is simply pricing in a quarter that had already been priced out?
Nothing seems to matter anymore except which stock to buy, a staggering conclusion with 11% unemployment and a raging epidemic.
Several asian nations will experience significant economic damage from the coronavirus, according to forecasts by Standard & Poor's.
Analyzing the 10 components of the Conference Board's LEI should give us an idea of when things will get back to normal.
The rally in the shares is not over.
Liquidity trumps bad news and helps to accelerate good news. It isn't very sophisticated or complicated but it is what's working.
I expect those that have been missing out to be lurking not too far under the surface.
The Fed Chair really isn't concerned about the bubbly action in the stock market.
You buy stocks of secular growers, the ones that have particular engines developed by themselves that allow them to fly into headwinds without a problem.
I'd venture to say the market is even now looking past the November election results and into 2021 to see what might be in store.
Other than taking profits, I'm not interested in putting on new trades.
Time to make the leap from avoiding overvalued assets to actually investing in plays that will benefit from a reversion to fair levels of valuation.
What happened? And what does it mean for the recovery?
The good news today isn't being sold but we have to stay vigilant and see if the positive price action continues.
Let's look at the charts and indicators.
An unrelenting rise combined with wild small-cap speculation in a difficult economy has market players struggling to understand what's going on.
There are some signs of a shift in market character so stay vigilant but don't be too anticipatory.
We're cheering what may be an aberration, a bullish employment number. We'll take what it brings - a wholesale shift in what we're buying and what we're selling to fund it.
The stocks that are leading are a completely different group than has led from the March lows.
The best approach is to trade and stay vigilant.
The market may be down but, once again, the decline's about the White House getting re-tough on China.
This bizarre, up, up, up movement makes absolutely no sense.
The great challenge of the market isn't identifying the things that matter but timing when they do matter.
Anyone attempting to navigate this market based on macro-economic analysis is going to have a tough time.
If there wasn't so much skepticism, there wouldn't be so much strength.
Let's take a moment to acknowledge how stupid something like sell in May really is, especially this year because it's turning out to be a pivotal month in the U.S. economy.
If the opportunity is there, no need to be inactive. Bears make money, but long time bulls do far better.