I still don't understand why the U.S. stock markets keep smashing records. The all-time high, which Dow Jones, S & P 500 and Nasdaq have hit since Trump victory, may be related to President's promises of tax reform, deregulation and infrastructure spending. Moreover, European economy has started to gather momentum.
From another point of view, with an unemployment rate of at 4%, low interest rates and steady economic growth, the U.S. stock markets managed record highs. Moreover, European Union has started to gather momentum, and reports about the second quarter 2017 may elicit solid number better than expected.
As a result, We may find that we don't really need to listen to all those analysts and columnists who like to explain why the markets did what they did during the last nine months. A former technical analyst for CNBC, John J. Murphy, reminds us that a lot of experts didn't see the housing bubble bursting in 2007 until it was too late. That's why it's better looking at the markets instead of listening to the experts. All that really matters is what the markets are actually doing.
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