It was only 3 trading days ago that we noted the reason a bounce was likely coming due to the implications of headlines like this…
That was a big time bearish headline.
Today you can click this graphic to get all the great news about why Santa is now all but assured (so says the headline, although that has been our favored short-term plan). I don’t mean to pick on MarketWatch; financial media large and small are blaring this stuff out to the world.
The big headline should get the FOMO going among the latest market sentiment refugees.
So I will just say party on, Garth. Merry Christmas. Happy Hanukkah. Happy days are here again. That’s what the media needs to be touting in order to finish fixing the sentiment problem the bears had until Powell emerged last week to begin the process.
A majority of people will want to believe that all that was needed is for this infernal trade war to get settled and for oil to stop going down. It was probably in the bag that Trump was going to make nice with China for a while and that oil producers were going to manipulate the oversold oil price.
I am positioned for this, but the work should be done now to prepare for H1 2019.
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