Trump is, of course, polling very poorly, but he takes consolation in the fact that the stock market is soaring. He’s not the only reason for that, of course; markets are going up all over the world. It would be churlish, however, to suggest that his tax cut and deregulation program didn’t have something to do with it.
The problem is that the stock market is overvalued by most standard historical criteria. What happens when we have a correction? Will he feel compelled to overreact in order to deal with the damage to his self-image? It could easily happen.