Greetings -The venerable SPX 500 continues to chug slowly northward, making new all time highs and refusing to correct more than a fraction at a time. It is very unusual behaviour, resulting in more than a 30% increase in a scant 3 1/2 months. This is really quite astonishing and is by now chasing all the bearish oriented investors out of their positions ala a water torture routine presumably.

It really makes one suspect there is a hand that controls the markets since it seems so unlikely to never have any corrections of significance in over 100 days of trading. Quite remarkable even taking into consideration that summertime often brings lower volumes in the markets.

However for whatever reason it keeps cruising higher almost every day, or around 75% of the time at least and the VIX which signals volatility or lack thereof keeps dropping into historically low territory.

What is going to be the catalyst? Will it be the beginning of August when the somewhat ubiquitous and onerous U.S. tarriffs kick in?
Or will it be granny finally decides she has had enough and starts to take profits?

Stay tuned and we will will see what tomorrow brings…