It appears that the S&P 500 hit a 52-week high today.
DB2
It appears that the S&P 500 hit a 52-week high today.
DB2
Same for QQQ. And for my IRA (which is still under it’s all-time-high).
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.
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
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
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
Just eyeballing the chart, it would appear that this year the S&P has resumed its pre-covid long-term trend line.
DB2
All In, AI
Scoop in the last $20
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.
And again today. Still 8.9% below its all time high…
The Captain