Stocks had that incredible pattern of sharp sell-off then a miraculous turnaround, again. Everyone will talk about 'why' after the event, but I believe this is fear driven. The fear now existing in much of the world about Delta, is moving funds to the US as a safe haven trade. It is actually a risk off movement by the rest of the world. 

The market is hesitating near the highs, but still a little uncertain as to where to from here. Valuations are too high, but the rest of the world is buying.

Stocks do it again

Aug 04 2021