On every trading day, after market closes, I would choose 10 best tweets from the Fintwit World and rank them on thoughtfulness of their ideas and informative of their charts. Please tweet your nominations for Top Ten Tweets (TTT) to my account @MasterPandaWu.
“People’s Powell” didn’t disappoint the bulls. Today, the FED chairman, in a much-anticipated keynote speech, said nothing to rock the All-Time-High binge party that has been going on for almost one year—well, to be exact, for more than 12 years. As Powell provided no concrete timetable for taper in the near future, SPX and the broader market dutifully jumped to another all time high, closing comfortably over 4,500 for the first time ever. As noticed by the fintwit gurus, “The S&P 500 is poised for its 52nd record high of 2021” (Lisa Abramowicz), “Worth noting that this is the Fed’s fourth tapering attempt in the last 13 years” (Jim Bianco), and “For those that are familiar with index parabola, THIS occurs once every 100 years” (The Great Martis). The best illustration of the overall sentiment goes to “Ten_Bagger,” who creatively drew a huge Brontosaurus alongside the dinosaur-shaped SPX weekly chart over the past 4 years and asked “OK, so the large Brontosaurus formation is complete…Now what? :)” Rest assured, nobody knows how high the Brontosaurus’s head would stick out to the sky. Maybe, to the Moon?