Its a process...such as
a)NASDAQ March 2000 (1999 NYSE peaked earlier) thru 2002/03 (the rally was known as the Iraq rall, discussed this before...I saw it unfold in real time, in front of my eyes the day (minute) a second UN Resolution for invasion was not to be sought by US....i.e the end of uncertainty...and
b) again 2007-2009.
My own view is S&P500 is to around 1,100, maybe 1200, but it will and must be above the lows of the prior two periods (950, and 750, respectively).
Speaking of which how can one say the S&P is in a secular bull mkt, when it makes lower lows???????
Yes, it reached new cyclical highs in 2015: it also did in 2008/09, and then gave it all away, back to 1997 levels. 12 years gains wiped out.
And we all know why it rose from 2009...it's no secret. I won't repeat myself, except to say that it was (and maybe still is) two reasons - not one. One is obvious (now ended...for the time being)...the other less so, but very well documented. And I don't want to bore people more than I already have...(else I get Moderated for repetition).
P.S I don't follow the DOW that closely.
