- An excited state of joy, a good feeling, a state of intense happiness.
- Violent derangement of mind; madness; insanity.
- Excessive or unreasonable desire; insane passion affecting one or many people; fanaticism.
- The stock melt-up is accelerating, the S&P 500 has surged by 25% over the last year, and has shot up by 8% in the last month alone.
- Despite the stellar gains, evident cracks underneath the stock market’s surface are starting to emerge.
- Many market participants don’t want to buy U.S. bonds anymore, and for good reason considering the low yield and the crashing U.S. dollar.
- The VIX is also higher, up by as much as 33% year to date in recent days, suggesting investors are increasingly worried about the state of the stock market.
- The bottom line: protect your portfolio, especially in the sort-term, and be prepared to buy the dip, unless a bear market comes along.
If central bank correlation holds, stocks are -40% from here pic.twitter.com/10hgFj64l7
— zerohedge (@zerohedge) January 29, 2018