Sniped from From Plunger’s Post “Weekend Report”

Since the Donald’s election the market’s move has been relentless. It has been discounting more favorable business conditions and possible infrastructure spending. This week that narrative began to be called into question. But, we are not going to even consider the “reasons” for the markets moves, we are going to simply focus on the language of the market itself. If its pontification that you want just turn on CNBC, they will give you plenty, you are not going to get any here. Bull and bear markets are driven by an underlying trend and a fundamental reason behind it. Often it takes years until the true reason is discernible for the trend. In the interim, a myriad of reasons are given for short and intermediate moves, but the reality is they are just noise. So we are not going to focus on the reasons but instead on the time honored principle of Dow Theory and the confirmation of the averages. The truth rests in the “language of the market” and it pays to try to discern it. Recall that all known information is inputed into price and we are much better served to interpret the price structure than to try to “pontificate” the reasons.