S&P Surges To Longest Record-High Streak In 20 Years As Dollar Spikes

Tyler Durden's picture

Despite a slump in consumer confidence, stocks just keep on chugging higher...

 

Another Day, Another Record High - S&P up 8 days in a row (longest win streak in 4 years) and 6 record highs in a row (longest streak since 1997) and today was the best day in a month...

VIX traded as low as 9.13 today...

The S&P 500 is now within 50 points of Goldman Sachs' year-end-target... for 2019!

Nasdaq led today (thanks to NFLX) with Trannies lagging... but from 1230ET markets were deadstick ahead of tomorrow's NFP...

 

Netflix raises prices and the stock soars to record highs...

 

Dragging FANGs back near July's record highs...

 

UPS and FDX woke up to AMZN headlines but that was just what the BTFDers wanted...

Exactly as we said it would: "Not surprisingly, FedEx and UPS investors were not thrilled with the encroachment on their business...though we're sure they'll ditch their ephemeral bout of depression and push the stocks to brand new highs by the afternoon.  Just another opportunity to BTFD."

"

 

Notably "high-tax" companies are now significantly underperforming the market since Trump's Tax Plan was unveiled...

 

While Small Caps continue to be bid... someone is loading up on protection...

 

Treasury yields closed higher on the day but remains in a very narrow range this week...

 

The Dollar Index soared today (up most since January to its highest since July), starting early thanks to cable weakness (Theresa May mutiny) and extending on strong US data...

Seems pretty clear who is really running the show with the dollar?

Or maybe it's this?

 

Gold was lower on the day as copper and crude bounced at 8amET...

 

Gold broke below its 100DMA as WTI manage to be rescued off the crucial $50 level...

 

Finally, sine Janet Yellen's first warning in July 2014: "Equity market valuations appear stretched"

  • S&P +29%
  • Nasdaq +53%
  • DOW +33%

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jamesmmu's picture
According To Warren Buffett’s Own Methods Stocks Are Not At All ‘Fairly-Priced Relative To Interest Rates’

http://investmentwatchblog.com/according-to-warren-buffetts-own-methods-...

AllStarInvestor's picture

Warren Buffet's rule doesn't really work when interest rates are fully manipulated, negative or zero - I can't understand how NFLX, NVDA, FB, and TSLA investors don't demand at least a minimal ABSOLUTE return??

yogibear's picture

Super Duper bullish!

Earnings don't matter for da FANGs.

Just BTFDs and be rich!!!!

AllStarInvestor's picture

i also buy if there are no dips?

kochevnik's picture

Of course Zionists printing counterfeit Jew money and buying corporations.  Then they will crash economy after gaining possession of everything in the economy. Dollar will not matter just worthless debt notes to themselves.
All currency denominated financial instruments will be destroyed, like savings and pensions and life insurance. Expect more shooting galleries

The_Juggernaut's picture

Someday this bull market's going to end.

Philo Beddoe's picture

Like waiting to watch Pandas fuck. You know they do it becasue there are little Pandas. 

Full Court Lugenpresse's picture

...and it'll be the same thing that ends that ends every bubble: you can't buy a penthouse with shares of AAPL. To enjoy the spoils of your winnings, you must SELL, and by definition only a small % of holders can or will sell near the top.

This market has made plenty of paper millionaires in stocks. Well, so did the 1999 market, and many of those people lost their millions. Plenty of people were paper real estate multimillionaires in 2007... who lost it all in the next 2 years.

The bubble trap is always the same: you feel like a genius watching your paper gains rack up on the way up, but forget that they're all worthless if you fail to stick the landing by selling at the right time. At some point a few too many people get antsy about the further upside (LOL at anyone who remotely imagines earnings justify buy-and-hold at these levels) and decide to take their chips and go home... and that's the end of the bubble. Those people win, everyone else loses.

shizzledizzle's picture

 That'd be just fine with the boys on the boat. They weren't looking for anything more than a way home. 

D.r. Funk's picture

More accurately it's a programmed market.

over the technical phrasing bull-market

the linguistics in wall st and cnbc and public level consumption want to, or have wanted to, keep it as a bull, with all the perception and implications that go with it. history will prove it generally a commandeered computer inputted and run time period

i.e.

 

Fake

(lol)

fake

AllStarInvestor's picture

yup, plus it creates an insane feedback loop - algos->institutions->retail->algos->....

Stormtrooper's picture

Ahhh, the smell of napalm in the morning.  Smells like,,,,,,a new S&P high.

7thGenMO's picture

If you are metaphorically saying that as the real economy and civilized society burns, somehow the "markets" make new highs, I 100% agree. What level will the S&P be at if the Norks nuke LA?

EndOfDayExit's picture

One sunny morning it will open gapping down 50-70%. Or, more likely, it will simply not open at all, with the Fed then promising to buy shares from general public at "pre-crisis" prices slowly over the next 50 years.

Praetorian Guard's picture

Shit, this party is never going to end!!!! Too much blow, pussy and booze!!! Life is good if you work in Wall Street...

Until you jump... or have to run, only to die tired

 

Come join us for FREE at www.gunsgrubandgold.com

 

ALL ARE WELCOME!!

AllStarInvestor's picture

Russians have broken into the CIA, and NSA for the umpteenth time - here's hoping that NYSE/Arca, BATS, and NASDAQ are safer than government intelligence systems - otherwise everybody's f'ed. This "price action" could be all for fun.

Overleveraged_and_Impatient's picture

Another day, another nice payday for myself. Putting all of my savings and weekly income into 3x Long Leveraged S&P 500 is the best decision I have ever made in my lifetime. It's so nice to just go with the flow instead of fighting the trend. Incase nobody has figured it out yet, we will be at 2600 next week, 2750 by Nov 8, and 3000 by Dec 31.

Folks its not too late to hop on the winning train. There's still plenty of money to be made. Just take off the bearish shoes and see this market for what it really is. What are we here to do anyway? MAKE MONEY! At least that's why I'm here. 

The 120+ Billion per month will not stop being injected. The prices of stocks will simply keep going up. They CANT stop printing. If they stop printing the whole country starves because the govt is already broke. We are making up for lost time. Donald Trump is erasing the entire lost generation of lows since 2008. He is fulfilling his promise as the Ultimate Stock Market President.

This is now OBVIOUS. If you STILL believe that a "crash" is coming then I simply don't know what else to tell you. You KNOW what the central banks are doing. You KNOW who the President is. You KNOW everything. It's time to just make the switch and get on board.

If you want to short the stock market go ahead. I predict MAYBE there will be a slight correction in 2022, summer time.

Blue Snowflake's picture

This is a melancholy post. So true yet, so wrong.

Overleveraged_and_Impatient's picture

I'll tell you what friend. I too used to be a bear, infact I was a bear as early as last year. Election night is what finally did me in. It was at that point I realized this is it. Sanity will not reign supreme. As long as indexes are measured in dollars they will simply go up. 

The good news is that's it not too late. If you can't beat the market, JOIN the market. Even Zero Hedge is running out of articles and charts to justify it. All you need to know is:

1) Market will go up as long as banks keep printing

2) Banks will not stop printing

...The rest is up to you.

FreeShitter's picture

No argument here.....we have been full retard QE since 09.....

D.r. Funk's picture

The power circle tptb would want everyone IN, if the engineered collapse that is always on the table at least as one of the possibilities. This guy represents every possible ounce of that stage or sentiment. Amazing that people here don't challenge it more.

Yeah lol one of the signs of the end is when words like OBVIOUS become attached to permanent neverending increase. DUH!

Blue Snowflake's picture

My reservation is that I don't want to engage in something that I view as immoral.

Very thin argument against what you're doing, though.

 

I hope you enjoy your "earnings".

 

Are you trolling us?

D.r. Funk's picture

FROM MARKETWATCH

The next bear market gets closer every time stocks hit a new record

http://www.marketwatch.com/story/complacent-bulls-still-control-this-mar...

laughoutloud

ReturnOfDaMac's picture

Welcome to the club.  Shucks, you can BTFD with the best of 'em!!  Paper gains are better than no gains at all, thats the logic I used.  Combined with paper printing ad-infinitum, you simply.cant.lose.

SheHunter's picture

'sanity will not reign supreme.'   Exactly.

I beared 2 months past you.  Gritted my teeth and joined the bulls.  But short swing trades and day trades.  Because I lived though the tech and housing bubble bursts.  But just barely.

D.r. Funk's picture

"Folks its not too late to hop on the winning train"

what a joke. that's every sign of bubble tops

"The prices of stocks will simply keep going up"

ok Pt barnum

"You KNOW who the President is"

haha the guy 100% completely against the power structure, in which the power structure will be continuing to try to remove, in which the machines and narrative was FULL BIASED TO THE OTHER PERSON WINNING

"go with the flow instead of fighting the trend"

uh, 'yeah', because the indexes are programmed and -rigged- along with vix in a way that has only caused the most extreme imbalances in history, so 'just go with the flow of the nefarious element who took control of the us stock market and bubbled it'

"the Ultimate Stock Market President."

It's Disinfo Folks. shitheads. how are you falling for this. (It was Rigged for Obama for how many years that people sat here saying it's rigged for obama. You're going to fall for the argument that Trump is not the outsider and one of them?)

....

not a coincidence this guy is showing up in the manner he is at this point

IMO

....

D.r. Funk's picture

Well...... as the mindless oblivious public remains unaware, of the weaponization of the us stock indexes/market

 

Keltner Channel Surf's picture

Frank Zappa sings (reposted):

And so she wandered through the doorway
Said “US Macro’s still entombed”
She said portfolios were her forte
And that the doves give her more room

Well, I was gonna need new dentures
So I just followed her big bets
Against the gloomy common-sense-ers
Poor bears hung by this cast of Feds

She stripped away my short in Costco
Said “don’t be naked anymore”
We bought stocks till we were un-concho
And then her algos gobbled more

She had a bull for a pet, and some anisette
She was squeezing the shorts, and she wasn’t done yet
She had dated Greenspan, stuck Hayek dolls with a pin
I said that stocks looked alright
But I wasn’t “all-in” …

(“Is that real anisette, I mean is that Italian Anisette or Wal-Mart Anisette?”)

D.r. Funk's picture

I've been to more concerts than you, chuckle

Traderone's picture

You are a proper cunt for red arrowing a man who has made such an effort. What do you bring to this site?

Keltner Channel Surf's picture

Thanks, T1, but I wouldn't take him seriously, just an exercise in style, it seems.  Expecially his assertion below that 'they' want folks to EXIT shorts (?!).  If 'they' are really in control, it's clear that's the last thing they want, else days like today will vanish.  Take care, and happy trading.

D.r. Funk's picture

#1 Yeah there is clear observational logic that SHORTS ARE TARGETED. Dickhead, if you've been paying attention that was a narrative on the Zh daily summary about 2-3 years ago. The other notions are/were fairly easily extrapolated, many months ago, given additional factors.

You are such a dense anachronism it's not even funny

Traderone's picture

Nice to converse with you KCS and happy trading to you too sir.

D.r. Funk's picture

He --

extremely

extremely

underminded me

or whatever. attempted to call me fake.

Fuck

That

 

When any normal examination shows a thoughtful truthteller

Keltner Channel Surf's picture

Hint:  constantly 'proving' you're serious only undermines the goal of an ironic ZH stereotype, and shines a harsh light on your poor execution, in this case more of a mono-type.   Go read some Robert Coover, etc., work on your craft, then come back with 1-2 good posts per day.  There's hope for you son ... but not without a total reboot into Safe mode -- you're loading too much into a scant, limited memory cache.  Good luck !

D.r. Funk's picture

I'm espousing truth. It doesn't conform with your myopic outdated junk.

My craft as is -very discernably clear- is very sophisticated and prescient

Keltner Channel Surf's picture

"Pay no attention to that man behind the curtain!  The Great Pfunk has spoken!"

Perhaps if I listen to Dark Side of the Moon while reading your posts the well-hidden (completely camouflaged) ‘sophist’-ication will shine through … I’ll wait for your (MGM) lion’s roar before dropping the needle …

D.r. Funk's picture

I at least respected you before I started posting here.

You have proved yourself a full cretin.

One with flawed character assessment.

Already reasonably proven wrong that I'm "" fake ""

CaptainGoodLove's picture

We need the Fuck that Meditation video!!

AllStarInvestor's picture

I lost count of how many traders told me that Ryan and Trump passed tax reform today! The market is trading at an IQ of 60.

Rise Of The Machines's picture

Agreed the market has been buying the so called tax cuts since late last year. Incredible really.

shizzledizzle's picture

True but when the tax cuts fall flat it will be "priced in".

D.r. Funk's picture

That's why it's not, "The Market"

As I keep trying to present logic, To attempt to influence the linguistics

It is the index programmers, at least as Zhers know, there is massive rigging/manipulation. So it's not the "market buying tax cut narrative". (Right?)

D.r. Funk's picture

(repeat: yeah weaponization, as i managed to state a few times the last several months)

Hard to argue that it's preposterous, and the replica of conditions are setup and present regardless

 

 

I believe, not far fetched to say the stock market has been weaponized, just -- available, for a trigger pinprick

BlueHorseShoeLovesDT's picture

I hope you weren’t short anything or long UVXY..

Oops I forgot you are a Perma Dick!

D.r. Funk's picture

#1 already stated im fine with my allocation. which you can't seem to process that allocation is part of balancing risk

2 yeah much effort is and has been made to get us to exit shorts/inverses. well the-fuck aware of that. exactly why i never will