Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “The Dow’s 500 point surge Tuesday after Federal Reserve Chair Jerome Powell threw markets yet another bone, may be a sign of unhealthy markets.
That’s the assessment from Nick Colas, co-founder of DataTrek Research.
“Healthy markets take the stairs,” Colas wrote in a note to clients. “Healthy, happy markets don’t surge 2% in a single session. Worried markets do. Remember the old traders’ saying – stocks take the stairs up but the elevator down. Even if you take the stairs two at a time you don’t get a 2% day”….
Read the full article here on Yahoo Finance!