Gee…we had no idea the numbers coming out of China would be wrong!
Futures down a bit on the news the virus numbers much higher. We just want to point out the obvious that things are stretched and extended and in dire need of some pulling back, particularly NASDAQ-types. Any pullback is actually good news for the bulls as higher prices needs pullbacks.
Of course, they can just jump all over the market again and buy it up. In the past week or two, we had some virus-related drops that were wiped away almost immediately. Just keep in mind that this market is riding on a sea of easiness as Powell going nuts with his “under-reported and un-reported” massive money printing operation we call NOT QE. Central banks around the globe are now pikers compared to what Powell is doing. Do not believe a word that it is NOT QE. He is doing exactly what Bernanke did, but more, when we were still worried about a financial crisis and an economic meltdown. Stay tuned!