So an alternative thesis to the one I gave yesterday is that the current movements in the market is nothing but short term noise in a secular bull trend that is refusing to die, because it's underpinned by none other than the world's most powerful central banks.
Even in Canada, the recent election of Justin Trudeau has ushered in an era of Keneysian economics to the tune of 30 Billion CAD in the short moths since his election. And more is on the way.
And now the Bank of England has injected a precautionary 3.1 Billion pounds into it's banking system after the Brexit. Japan has pledged billions more to prop up it's banking system, and the US continues to keep intrest rates at historic lows.
Source
As long as central banks are allowed to prop up the stock markets, and as long as people keep buying, the status quo won't go away easily or quickly.
