New Highs? Sorry, I don’t think so..
- 0
- Add a Comment
While the DOW has managed to crawl to a new high in nominal terms, the S&P 500 remains well below its record high as does the Nasdaq. If the DOW was a ordinary “market cap” weighted index it would sit at about 80% of its previous high. If we were to measure the index’s and take into account inflation, the DOW would only be about 60% of its previous high. My view is that this is as good as its going to get, the vast proportion of stocks will be absolutely killed in the coming months, and the decline should start about election day or before.