Here's What Things Look Like As The Bull Market Turns 5 Years Old
Michael Gouvalaris | Mar 16, 2014 02:55AM ET
The S+P 500 is now 2.25% off it's all time highs as concerns over China growth, Russia, future monetary policy, among others, abound. Recent history has shown the S+P 500 put in a higher high on average of about 35 points above its previous highs (as denoted on the chart above). This pattern seems to be continuing as Friday's close has completely wiped out all the gains that came about last week when, at that time, a possible diplomatic solution to the situation in Crimea seemed possible.
Like the saying goes "no pain, no gain". And while the doom and gloomers have continued to push their messages and agendas through every available medium, they have scared ordinary investors half to death. And while they wait for their 30%, 40% even 50% or more "crashes" in the stock market the S+P 500 has nearly tripled off it's 2009 low.
This next week will likely be a key week on both a technical and fundamental level. On Wednesday the new Federal Reserve chairman Janet Yellen will be holding her first press conference as Fed Chair, possibly giving more indications of future monetary policy and economic projections. And of course the events unfolding this weekend in Crimea may very well have at least a short term impact on the stock market as well.
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