Jeff,
You make a whole series of excellent points, all of which are hard to disagree with.... It has been like that for maybe 10 years, most markedly since highs of 1998.
>>but I think a recession is around the corner.<<
I do not agree with this statement and the insinuation that any recession at these levels will lead to a DOW 7500 or lower.
Our markets and the worlds will continue with strength and favoring the upside for another 20 years. Yes, there will be recessions, but Not a crash. Unless something unexpected alters the investment landscape, like war, earth changes or monetary instability that is incorrectly handled. If you follow astrologers and psychics that possibility exists over the next few years.
But no trendline or 12% annual mean requires we retrace 50%-60% of the gains since 1991... It's just not going to occur under present world wide economic conditions. The worlds demographics is the key along with an economic resurgence similar to the industrial revolution, but cleaner.
It's just beginning..!
You might like this fellow, but he's been wrong for 10 years and was wrong again last August.
stockmarketcycles.com
We have a double bottom here at 10,000, if it breaks later, 9,200 is possible, but don't hold your breath.
Chip |
