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Summing Up 2017 In Two Record-Breaking Charts

Summing Up 2017 In Two Record-Breaking Charts

Via LPLResearch.com,

What can we say about 2017 that hasn’t been said already, as it continues to smash records?

Per Ryan Detrick, Senior Market Strategist, “2017 will likely be remembered for two things: a persistent bullish trend and historically low volatility.”

In fact, here are two more records that prove that point.

The Nasdaq has never made more all-time highs than the 63 it has made (so far) this calendar year, topping the previous record of 62 set in 1980.

Divergences sending bearish message to stocks?

Divergences sending bearish message to stocks?

                                                                                                                                                                                       

The 2-pack below compares the Cap weighted and Equal weighted performance year to date of the S&P 500 and Nasdaq 100-

The Deflating Rally

The Deflating Rally

Authored by Sven Henrich via NorthmanTrader.com,

Record prices continue to be printed on US indices as the global multiple expansion on the heels of still ongoing record central bank intervention has yet to slow down in a significant way.

All central banks were in essence dovish in recent days and weeks, whether the FOMC, the ECB, the BOE and of course the ever active BOJ as well as the SNB as it showed a new record $88B in direct holdings of US stocks.

The Swiss National Bank Now Owns A Record $88 Billion In US Stocks

The Swiss National Bank Now Owns A Record $88 Billion In US Stocks

In the third quarter of 2017, one in which the global economy was supposedly undergoing an unprecedented "coordinated growth spurt", and in which central banks were preparing to unveil their QE tapering intentions, in the case of the ECB, or raising rates outright, at the Fed, what was really taking place was another central bank buying spree meant to boost confidence that things are now back to normal, using "money" freshly printed out of thin air, and spent to prop up risk assets around the world by recklessly buying stocks with no regard for price or cost.

Traders On Hold As "Super Thursday" Looms

Traders On Hold As "Super Thursday" Looms

Yesterday's brief late night dip in ES has been promptly bought with US equity futures fractionally lower, Asian shares inching higher on Thursday and Europe unchanged ahead of today's Super Thursday, where we get the Republican tax bill revealed shortly before noon, the BoE's rate hike announcement, and Trump appointing Jay Powell as the next Fed chair, as well as as earnings from companies including Apple and Starbucks. With the dollar dropping slightly, markets seem to have taken a shine to the euro and EM FX, specifically your high beta currencies.

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