Good Friday morning. “There is a magnet on this market dragging it to new ATH’s…" 

On May 19th we first wrote the following:  

“There is a magnet on the market dragging it to new ATH’s...then higher still. We continue to think that the best analogy for this market is the plandemic bear market of 2020. After the March lows were in, we had a V-shaped bottom. Not only did we go to new ATH’s, but far beyond, with additional sharp gains into year end. For example, once the March 2020 lows were in, Nasdaq proceeded to rally 79% into late November. We may not get that kind of parabolic move, but what looks clear to us is that we’re headed to new ATH’s, and then well beyond.”

What a run it’s been. And now, just as we’re getting back to ATH’s (in a clone-looking market to the V-shaped 2020 market), here come long term-bears flipping back to bullish. Seeing this take place everywhere, just as put-call ratios approach bullish sentiment (a contrarian sell signal).

As we covered yesterd...