“There are decades where nothing happens; and there are weeks where decades happen.” -Vladimir Lenin
U.S. stocks made zero progress in the seventeen months from October 2014 to January 2016. And in the seventeen months since the February lows, here’s how the following indexes have performed.
S&P 500 +36%
NASDAQ 100 +52%
Russell 2000 +52
What’s happened in the last seventeen months? Three rate hikes, a U.S. election, and a CAPE ratio that expanded from 24 to 30.The market has had plenty of reasons to stop rising, except it has refused to acquiesce to the demands of thirsty bears and hungry bulls.
Each of these three indexes can close today at an all-time high for the seventh time this year. (The dots below represent the all-time closing highs for each)
The easy money is being made, enjoy it while it lasts.