Two Markets

The market is being held up by hysterical buying in parabolic stocks like PCLN. The Dow, on the other hand, is well off its highs. As I write, the NASDAQ and the NDX are up on negative breadth, while the Dow is down 60, and the S&P 500 and Russell 2000 are also down.

How will this divergence be resolved? Not much question about that – the real question is when.

I’m so tired of this cr*p.

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