Make no mistakes, whales and reptiles are taking all new money, and new money is in the growth stocks, the tie in with 10Yr T and inflation is bull, even they know it's a stupid argument so they are switching to bank lending growth issues now. Going forward this is same ol' Obama economy, and the stock market is affected by it.
Recall under Obama the market was coupled with Oil prices? Stupidest thing ever, because last 4 years oil was a zero factor. Excuses to take new money, leaving all the old money intact.