Chipotle Mexican Grill Inc (CMG)

[Nebuchadnezzar]

It's slow denial of reversion to the mean. The market cannot go up without fed accommodation tax cuts and stock buybacks. 7 years of artificial low rates created a bubble in tech (faang) which lead to huge returns. Down was 18000 before Trump 2015 was the organic peak due to low rates. Dow then went up 8000 points Trump tax cuts and other factors poured gasoline on the fire which was dec17- Jan 18 parabolic move that unwound fast in February 18 but the market ignored reality. 2019-2020 is a reality many are not ready for or have ever experienced..a tightening cycle . Fair value fir Dow is 19000 SP 500 is 2350-2450