In a day like today, when stocks and bonds are
rallying, indicating that the market is once again convinced Fed "bad cop"
Fisher was full of it, and more easing is expected (as noted earlier),
and with NFP set to fall on a market holiday, thus the number, if weak, can be
spun as one ushering in more QE over the weekend, one can only sit back and have
fun with Birinyi's ruler. Which in turn brings us to the following conclusion:
with the market in 2012 once again in a straight diagonal line, just like in
early 2011, gaining 50 SPX point each month regardless of news, climatic
conditions, liquidity and frankly anything else, it is quite obvious that the
S&P market will hit 5000 by December 2019, a date which is also notable
because as the second Birinyi ruler chart shows, that is when trading
volume will officially hit zero.
Birinyi vs stocks...
and volume:
Birinyi vs stocks...
and volume:
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