Market in confirmed rally!
Stocks shrug off negative headline again!
(generally, I prefer to look for answers in charts. Given the VIX level and the Feb reistance, if the market wants to sell off, it should have done that last Friday when worse than expected job number out or today when worse than expected home sales out. However, we only see the 5 dojis followed by a big green bar. Market may indeed have some strength.)
"With each passing day, the market appears to have already priced in a lot of the bad news swirling around the economy.
Pundits and policymakers have been whispering about a recession for almost a year now. If there is one thing the stock market has proved time and again, it looks ahead, not behind.
The broad indexes have logged several solid up days in higher volume over the past few weeks. Rather than give back those gains, the market has held firm, taking only minor losses in light volume on days when it does pull back."
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