Need to Know: How to navigate this ridiculous ‘SpongeBob’ stock market

It hasn’t been a disastrous week for the major indexes — all central-bank meetings considered — with the S&P 500 poised to finish up 1.8% with one more session to go. Thursday’s session was strong, marking a record close for the Nasdaq COMP, +0.84%

So what have we learned? Northman Trader’s Sven Henrich says the market has been behaving like a kooky cartoon character. This chart shows just how wacky it was, as it followed the dictates of Fed utterances:

Northman Trader

All better?

“Investors should be cognizant that higher prices here are driven by two factors only: performing-chasing by underperforming funds, and global central banks adding liquidity at a record pace as there is policy panic about the lack of global growth, productivity and real investment,” Henrich says.

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