Major averages rose during Friday's truncated trading session on lower, holiday volume. The otherwise quiet day was notable for the fact that the Russell 2000 posted its 15th straight up day in a row. It has only done this once before in 1996. The index gained 6.1% during its 15-day win streak which ended on Feb 6, 1996. The gain for the current 15-day win streak stands at 16.5%.
The Fed meeting is fast approaching which will most likely bring the anticipated rate hike. Some may wish to listen to bestselling author Michael Covel's recent podcast with David Stockman who says that after such a furious and prolonged bout of QE, markets have never managed a soft landing: https://www.trendfollowing.com/2016/10/27/ep-497-david-stockman-michael-covel-trend-following-radio/
Stockman's views echo those of Jim Rogers, Alan Greenspan, Bill Gross, and Ray Dalio among other notables.
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