With the reduction of tensions on the Black Sea, global markets rallied yesterday to multi-year highs. In the U.S., the S&P 500 closed at an all time high of 1873.91. Other markets set new multi-year or all-time highs as well. The world is breaking out.
The day’s trades had barely closed, when the Johnny one-notes began their usual litany of complaints. The market is long in the tooth, we are told; the bull cycle is Fed-driven, it’s temporary, its “toppy.”
Then there is my favorite complaint: All time highs are dangerous, a sign of a market that has gone too far. (Subtext: Get out now!)
Unless you can be bothered to look at the actual numbers: If you were willing to actually consider the quantitative data about highs, you might reach a somewhat different conclusion. In point of fact, one of the most bullish things that can happen to any market is for it to reach new multi-year highs. Continues here
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.