Why the stock market always goes up

Tuesday 10 November 2026

This is damn predictable these days. TME with more.

Sexy SOX

SOX is bouncing hard, reclaiming the trendline. One day doesn’t make a bull market, but the positioning puke has been extreme. Should this space squeeze further, people will be forced to chase.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.