It appears that the S&P 500 hit a 52-week high today.
DB2
7 Likes
Same for QQQ. And for my IRA (which is still under it’s all-time-high).
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OK, but Yahoo Finance shows the all time high as 474.96 on Dec 1, 2021 for SPY.
A continued recovery but not a new high.
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One year (52-week high) is short time thinking for the market. All time high was 01-03-2022 $4,796.56
Note: Yahoo reports day high while The Captain reports day close.
The Captain
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True, but it can be a long time before a new all-time high. After the 2000 high it took seven years, and after the 2007 high it took almost six years.
DB2
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20-22 interrupted the normal growth of the S&P 500, The old pattern is returning. 2000 and 2007 were endogenous structural market affairs while 2020 Covid was an exogenous affair.
The Captain
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Just eyeballing the chart, it would appear that this year the S&P has resumed its pre-covid long-term trend line.
DB2
3 Likes
All In, AI
Scoop in the last $20
1 Like
Sure. M2 is still much higher than the historical trend line presented in your chart - that there is still excess cash in the economy so that downward trend does not overly concern me.
Eyeballing the chart would suggest to me that there is still about $2 trillion in excess cash in the economy.
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And again today. Still 8.9% below its all time high…
The Captain