Live by the Hype, Die by the Hype, Live by the Hype Again

The title alludes to the hyper-kinetic, hyperbole-fueled stock market and going the other way, the defensives like Treasury bonds and gold; all informed by the headline of the day. If you click the graphic you too can read about how some good news on US-China trade talks has released the world’s endorphins into a big turnaround rally.

I’ll start to take it more seriously if SPX can crack the SMA 50. But until then, let’s remember how inflammatory news headlines don’t tend to be lasting in their effects, whether to the downside or upside. It’s machines, robots and algos after all, on a search and destroy mission for all shorts who knee-jerked the recent drop and FOMOs who puked to the sidelines.

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