There were mad moves on the DJI (Wall Street) north on Friday 5th May 2020. The bulls gored the bears big time. [Expand chart if annotations overlap a bit]
But there's 'fundamental' stuff that's not right. The Bureau of Labour Statistics (easily findable via a search engine), said that their figures were not correct. They even said in their report that if unemployment was counted more correctly the percentage would have been 3% higher.
However, the bulls were in a frenzy. Greed and hope dominated. Reality meant nothing.
Then there are other problems coming up. If you don't believe that COVID-19 has died and you think that human beings are the main vehicle of transmission, then mass protests breaching social distancing and public gatherings are likely to bring a second wave of virus infections. Hello - what caused the bubble to pop in the first instance?
If you don't believe that there is cure or vaccine in sight for the next 6 months to fight this virus, then it means the virus is gonna exploit human interactions from mass protests across America and other parts of the world - without restraint.
If you believe that money printing is the economic fix for the myriad effects of COVID-19 on GDP (and that GDP is important), then for you the markets will charge north forever!
The choice is yours about what you believe. But what you believe could be the result of manipulation of minds by fake news. Some say there is no such thing as fake news.
Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.