24/01 Week, page-641

Here is a log chart of the S&P500 going all the way back to 1920. My theory is that the US markets have recently been turbocharged by the Tech Titans. If you put a turbocharger on your car, you don't expect it to go slower. This additional strength (i.e. earnings) can be expected to increase the upward trajectory of the US indexes - no different to putting a turbocharger on a plane. That's what we have been witnessing since the covid low. (i.e the turbo chargers have been guzzling up the loose money.) The last time the S&P 500 hit the green long term resistance line was the dot com boom in 2000. That was just the rehearsal - this time it looks like it is the real thing. We should be able to confirm this trajectory by monitoring the forward earnings of the Tech Titans and the GDP.