The market is shrugging off the government shutdown as the S&P 500 just hit a new all-time high, and all of this in the face of a slowing labor market, some persistent inflation and arguably high market valuations (which are attributable to large-cap growth and the AI megatrend in particular). And the 14-day Money Flow Index into the S&P 500 (SPY) increased to 63 from 62 over the last week, another indication of market strength. Treasury yields continue to normalize as the fed has been more dovish.
Overall, this is still a greedy bull market, with a 70 (out of 100) on the BH Market Sentiment Index.
