/The Stock Market Melt-Up is Here

The Stock Market Melt-Up is Here

Stocks are breaking out to all-time highs despite big red flags waiving strong in the economy. There are signs the current rally is a blow-off top, a melt-up that takes place before a crash. The crash is triggered by the tightening of monetary policy that led to the rally in the first place. Between breadth, tapering, and leverage, this rally doesn’t look sustainable.