Here is an interesting excerpt from an article by Puru Saxena, tilted "Birth of a New Cyclical Bull?" in which I am in agreement.
BIG PICTURE - "Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria" - John Templeton, Founder of Templeton Funds
The coming year may go down in history as a bullish one. After the shocking asset-liquidation witnessed in 2008, the following 12 months are likely to provide above-average investment returns. Given the negative economic news and awful investor sentiment, my assessment may sound absurd but it looks as though the bear-market ended late last year and we are now in the early stages of a new cyclical bull-market. Below are some of the reasons why I believe the skies are clearing for a 4-5 year bull-market:
• Surging liquidity - central banks have pumped trillions into the banking system
• Low-interest rates - yield on cash and cash equivalents is at a historical low
• Declining corporate bond yields- risk appetite is returning
• Declining Ted Spread - inter-banking lending rate has declined, a positive sign
• Low valuations - various stock markets are trading at very attractive multiples
• Horrendous investor sentiment - a contrary bullish indicator
• Volatility has peaked - VIX has topped out and is falling
• US Dollar rally has ended - bullish for the markets
• Global stock markets are making higher lows - sign of base building
• Huge amount of cash on the sidelines - US$8.85 trillion or 74% of US market cap
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Last
$38.95 |
Change
-0.685(1.73%) |
Mkt cap ! $201.0B |
Open | High | Low | Value | Volume |
$38.88 | $39.02 | $38.82 | $43.41M | 1.116M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 2161 | $38.94 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$38.95 | 2100 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 2409 | 38.950 |
13 | 3854 | 38.940 |
10 | 1619 | 38.930 |
11 | 2629 | 38.920 |
8 | 2707 | 38.910 |
Price($) | Vol. | No. |
---|---|---|
38.960 | 106 | 1 |
38.970 | 575 | 3 |
38.980 | 1698 | 6 |
38.990 | 2615 | 6 |
39.000 | 4170 | 9 |
Last trade - 10.12am 04/09/2024 (20 minute delay) ? |
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