A few weeks ago we joked that the SEC had banned all downticks. That might not sound so funny now as there have been almost zero downticks over the last two months. Stocks have rallied on 75% of all days and every 0.5% dip has been aggressively bought into. This market is an unstoppable bear killing machine. Equities reversed their full 1.5% losses from the morning as the “buy the dip” trade continues to dominate every minute of every day. The truly amazing rally just doesn’t quit (click to enlarge):
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