Posted by alhambra

As expected (and true to our blog’s name), the markets did exactly the opposite of what every mainstream analyst and trader anticipated for today’s trading session. The market ended up higher…..again. For two straight weeks now, and at a break-neck pace. With every one from Jon Najarian to Art Cashin suggesting you take some off the table, the market again did what exasperates the most market participants.

Here is today’s intraday chart, with the red line situated at the previous market close:

While one trading session does not dictate any trend whatsoever, it just goes to show that the day-trade-loving folks at CNBC are just flipping a coin every single day, and making their calls accordingly. This is exactly why you don’t anticipate short-term market direction, because you just look foolish. You always react. You should never predict.

Now for some numbers. For the week, we are up considerably around the globe: