And this collective brain is telling us something. We just have to figure out what it is.
It sees the Biden election as a positive...and it is still climbing.
Given that the market is the present value of future earnings and, hence, future events, it is telling us "it" sees something very positive re: earnings.
Question: How would the market react to the absorption of the U.S. economy by China? Would it be a negative...or a positive?
I ask that question because the market, in its collective wisdom, sees that as a possibility now that China has stolen the U.S. presidency.
Company stocks do well when they shed American workers and replace them with either automation or Asian scabs; an improving stock market generally means a decline in opportunity for American workers.