It should come as a surprise to no one that I’m getting my ass kicked today, as the market once again roars to records highs, based on the fact that Trump didn’t sound insane last night. Oddly, after his speech, the ES and NQ had pretty much shrugged their shoulders at the whole thing. I guess the lack-of-insanity had to sink in for hours, and now equities around the world are at levels never before seen in human history.

Most vexing to me is what energy is doing, because oil is weak (which is what I want to see, since I have a lot of energy shorts) but energy stocks are VERY strong. Looking at the divergence below, the monster question is – – will oil “catch down” to energy stocks (which have been unusually weak until today), or will energy stocks continue to “catch up” with oil?

(Click on image to enlarge)