On November 23, the Dow Jones (DIA), S&P 500 (SPY), NASDAQ (NDAQ), and Russell 2000 (IWM) all hit new highs for the first time since 1999. Did Trump's win create a new bull market that could rise much higher based on Trump's massive infrastructure bill? Or is this historical rally, where the Russell 2000 had its longest winning streak ever and had its best performance (up 15.4% in 15 days) ever, a sign of euphoria, "a state of intense happiness and self-confidence," and thus a warning before the crash?
Contrary to popular belief, Trump's win may have not created a new bull market. The current surge in the Dow, S&P 500, NASDAQ, and Russell 2000 followed the same resistance line that started in May of 2016, long before Trump won the election. Trump even did not win the Republican nomination till July. The current surge could have been…