In 2016: there were three disruptive events for market:
1. Market Sell off in Jan 2016
3. Trump Victory
In 2017: no disruption
— Deepak Singh (@smarket) July 23, 2017
2017 has been a unique year so far with not a single disruptive event that has shaken people's belief in the market. It has been quite a one-way ride for the US market. The S&P500 daily chart Year to Date speaks for itself
As you can see in the chart above - S&P500 is now up almost 10.2% YTD with new support line at 2405. And even though, S&P500 has rallied quite a bit but the element of disbelief still continues to be quite high.
The trend has been same when it comes to Indian market. Here's Nifty in 2017 - Up 22%
Once again - there has been complete disbelief. And the disbelief is only increasing as market continues to scale new heights.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers