ZEEV, interesting post. I'm not sure if anyone has pointed out why 1950-1966 may have been so robust or not. But, in order to have a bull-market for so long, there must be a revolutionary product of some kind, that will change the way Americans live and communicate. I suspect the color Television had something to do with that bull market run during the 50's.
At the same token, I feel the cell-phone and the PC had a lot to do with our most recent bull run along with the advent of the internet. Nevertheless, the last figures I saw, over 50% of all Americans own a cell-phone, and if I'm not mistaken, over 50% of households own a PC. That begs the question. What technological advancement will change the way we live and communicate, to the degree that over half of all Americans will consider it a must own? Wireless phones with internet access? Networking appliances in the home? Palm pilots? Wearable PC's? Wrist watch phones? Portable internet video hand held devices?
I'm not so sure there is anything on the horizon that can, and will change the way we all live in the near future as much as the automobile, color television, cell-phone, and the personal computer have done over the last 100 years. Therefore, can we really expect to reach new highs anytime soon on current technology? Probably not, therefore I suspect we will too, have ourselves a very lengthy trading range for a number of years, before we ever see the likes of 5000 again.
BWDIK
regards,
KM |
