euphoria

English

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