Another nothing-matters market?
In 2013 and again in 2017, stocks entered environments where nothing seemed to matter. Day after day, stocks just crept higher and it frustrated everything but pure trend-following. Based on recent price action, we've surpassed even those momo markets. The largest ETF in the world, SPY, has now closed above its open price for 12 straight days, and it's enjoyed a higher intraday low for 11 days. That combined streak of 23 days is a new record, surpassing the prior records from January 2013 and October 2017.

