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Money supply growth is through the roof.  A great deal of this money is finding its way into the U.S. stock market.  As they say, don’t fight the Fed. 

Hat tip Brian Gilmartin of Trinity Asset Mgmt.  

Some color:  The late Marty Zweig is credited with the saying ‘Don’t Fight the Fed’. In his book “Winning on Wall Street’, which was published in 1970, he writes “indeed, the monetary climate – primarily the trend in interest rates and Federal Reserve policy – is the dominant factor in determining the stock market’s major direction’.

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