I am regularly send odds and sods by various peanuts (usually economists) telling me what the market should and shouldn’t be doing. Unfortunately, they are making a fundamental flaw – the stockmarket is not the economy. The stockmarket is a pricing mechanism based upon the aspirations and perceptions of populations and these populations are not rational and never have been. This is why concepts such as the Efficient Market Hypothesis are rubbish.
All that matters is the trajectory of price and prices at present are heading up.