Birinyi Says "this year's bull market most resembles the patterns etched in 1982 and 1990"
If this becomes true, this latest run up is just the start of a multi-year breakout which will take the averages to Unfathomable heights...numbers like DOW 50,000 and S&P500 at 5000 on the first leg and then beyond.
History repeats. I remember march 2000 just like yesterday. Market roaring , cramer yelling "buy buy buy", everyone said it was different, dow 36000, etc... then on March 10 , 2000 it all came crashing down.just saying
Actually the DOW had already topped the previous December of 1999, the NASDAQ topped in March 2000. There are big differences now versus then, The FED rate hit 6% back then, now it's virtually zero. Back then you had a very hot economy, 5% GDP, now you don't. and most importantly, when you adjust for a the inflation caused by QE infinitum, the averages are nowhere near all time highs. So the bottom line is, it looks like this is the beginning of a breakout which will take the averages a discernible distance past the old highs. Figure at least 10% in the short term, so that would put the S&P 500 over 1700 within months.