"This is the biggest redistribution of wealth from the middle class and the poor to the rich ever. Who owns assets—the rich, the billionaires."
Stanley Druckenmiller is among those billionaires, but explained that as a citizen this concerns him. But "as a money manager and a wealthy person that deals in markets, this is great for me," he continued, "But I don't think this is great for America."
There is solid Fib Resistance residing in the area of current prices and the wave count suggests it should pull back in a 4th wave down to the 200 area in the coming month(s). The ADX has already rolled over on the daily chart suggesting the trend is exhausting and the DMI's are displaying bearish divergences.