This is incredible: The S&P 500 is now up 33% from its October...

This is incredible:
The S&P 500 is now up 33% from its October 2023 low and about to break above 5,500.

Since October 2023, the index has now added $11 TRILLION of market cap.

That's more than the value of China's entire stock market.

It's also 4 TIMES the GDP of France and 5 TIMES the GDP of Canada.

The S&P 500 has more than tripled its average annual return in just 8 months.

How high can this rally go?

https://x.com/KobeissiLetter/status/1806325394246639729


...it is not how high the S&P500 goes that market participants are hopeful of. They are more hopeful that the rally can broaden out without the indices going higher. That has not happened, not on a sustainable basis as well.

...if the S&P500 goes to 6,000 or a bit more without a prior correction (of 10% at least), I think the chances of a crash would be more than 50%. Even if it does, it just a mere 10% and it will be primarily tech stocks.

...while the S&P500 gained +14.95% YTD, this is what resource stocks have been doing in US and Australia, .....underwhelming indeed. Maybe when Xi meets up with his senior leadership on economic matters in mid July, resource stocks players can hope for a meaningful stimulus to breathe life into what has already been largely a bear market (with exception of oil, uranium and silver).

BTU (Coal): -11.22% (YTD)
NEM (Gold): +1.08% (YTD)
PAAS (Silver) +23.75% (YTD) SVL -3.12% (YTD) ASX
BHP (Iron Ore/Copper): -16.94% (YTD) (US) -15.33% (ASX) YTD
ALB (Lithium) -33.37% (YTD) PLS -22.28% (YTD) ASX
OXY (Oil) +4.99% (YTD)
NIKL (Nickel) -7.55% (YTD)
CCJ (Uranium) +20% (YTD)  BOE +2.48% (ASX)
LYC (Rare Earths) -17.52% (YTD) (ASX)
CHN (Palladium/Platinum) -16.47% (YTD) (ASX)