The bulls goosed commodities and copper to catapult stocks higher on Friday. Bears cannot stop the upside rally until they weaken these two parameters. The bulls are in control of the stock market direction currently but the caution flag remains out.
Trader complacency, fearlessness and euphoria are off-the-charts. Floor traders formed a conga line at the NYSE yesterday singing songs and buying stocks with reckless abandon. The stock market is one big party day after day and everyone, even Aunt Tillie who is typically skeptical of Wall Street, believes higher and higher prices are ahead through the end of the year.
11/3/19;
7:00 PM EST =
11/1/19;
9:36 AM EST = +88; signal line is +77
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