SPX crossed 2% above ATH this week on a Friday rally that was based on flimsy words from a pathological liar. We’re in territory where there’s typically at least a brief pullback.
I know a lotta bulls developed amnesia, given the run up these past three weeks, and I’ve profited off the rally myself (in longer term holdings), but for any regard not limited to a three-week memory capacity, you know it isn’t sustainable without a pullback.
Granted, the market’s not rational, and I might be naive to even consider this, but it’s looking more like a setup for a pullback tomorrow with news like this. And no, this isn’t even close to last Monday’s circumstances. Given Friday’s events, and this weekend’s news, I don’t think a last minute tweet is going to stop a pullback tomorrow.
