The Thanksgiving Day holiday was an indulgent feast for the equity markets.
The S&P 500 and the Dow Jones Industrial Average both posted another round of all-time record highs.
There even were plenty of leftovers with all the trimmings for world markets too. Japan’s Nikkei 225 index set a new six-year high, while the Eurozone blue chip index made a five and a half year high.
But for such a traditional holiday that brings families together, for stock market investors, it has felt more like a Bacchanalia.
With the Fed pumping $85 billion a month of stimulus into the system, the market landscape has actually become overly indulgent to say the least.
And since the holiday break, perhaps markets are now reeling as a sudden case of indigestion sets in. The S&P 500 has declined in the past four sessions, and the way today’s turning out, we’re likely heading for five straight.