Saw the Tina Turner musical over the weekend (it’s been quite the trip down memory lane pop-culture wise for yours truly lately) and it was outstanding. But it wasn’t all peaches and cream for the Queen of Rock ‘n’ Roll with a series of ups and downs until making the ultimate comeback. The market has been on a similar journey of late, but it’s comeback hasn’t been as warmly received as Private Dancer. The summer season and its accompanying light volumes have provided the right tonic for a market that many still question. But like Proud Mary it keeps on rolling, today’s move higher somewhat perplexing given the data we got before the session got underway. There have been various canaries in the coal mine emanating from China for some time, and the misses on industrial production and retail sales overnight did little to dissuade that thought. The US data we received wasn’t much better, orders and shipments for the empire mfg index coming in at shockingly low levels. This was accompanied by a weak housing sentiment figure, with the buyer traffic number hitting the lowest levels in 8 years. And yet…
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