This market seems ready to explode. The last seven days have produced an enormous amount of growth names breaking out (gapping out) on explosive volume with major price moves. A quick look at my screens reveals many more ready to go
With GDP so low, and earnings slowing only to high single digits, foreign markets are holding up the earnings of US companies even as the US economy slows. If the expectation of a reaccelaration of the US economy in the second half comes to fruition, then earnings may be much stronger then most estimates expect. The market maybe pricing these new expectations in now. Plus, with so much liquidity in the market, not much supply of stock, and high short interest and we are primed for a rally of mass proportions.
We've now entered the good new is good news, bad news is good news market. Goldilocks is be alive and well.
Time will tell. Good luck.
Sorry I am so late with an update, but this market is keeping me busy.