Earnings are healthy and will outstrip interest rates right now, hence money being poured into the market.
The USD has likely bottomed short to medium term as the Fed will stick interest rates up soon, the only reason not to would be to temper the housing market which is getting smashed - those people buying property now HAVE NO RIGHT to enter, it is too late. This has to work itself out as it will in Australia when new homes meet the short fall ... which may take a lot longer than in the US because there is an oversupply of houses. In Australia we are 30,000 new houses short this year ... just a matter of time for this to catch up (probably need more tradesman), noting that defaults have been at an all time high in SYD for the past 12 months, CBA and MLB right on SYD's heels.
Phil
DOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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