Today (April 27) marked another milestone as the SPX:VIX ratio hit an all-time high, along a record high on the Momentum indicator, as shown on the following Monthly ratio chart.

We’ll see if that continues if Congress fails take over the reigns from the Fed (who are now tightening monetary policy) and move forward with President Trump’s fiscal policies to stimulate and strengthen the economy and labour market (from which they’ve abdicated their responsibilities and simply left up to the Fed to handle since the 2008/09 financial crisis).

I’m not convinced that will happen any time soon, since all we’ve seen from Congress, so far, is obstructionism, complete resistance, slow-walking and failure to responsibly represent America’s interests, as a whole, as well as witnessing, what seems to be, unabashed and an unprecedented amount of hate speech…not a great image for the country to project as a supposed “leader of the free world.”