Market breadth finally looks healthy -- very healthy, in fact -- and is finally confirming the strength of the rally.
SPX
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Many people age 22 don't care about money: They expect to inherit it. For most, that's a very poor assumption.
Increased consumption, lower business expenses and consistent tax rules will get the economy going again. None of that is happening right now.
The new Apple iPhone should boost the overall U.S. economy. What's more amazing, though, is the company's increasing sway on stock markets.
The downtrend in junk bond yield spreads is a positive for the ongoing U.S. stock rally, although it’s worth keeping an eye on one possible warning sign.
Citigroup strategist Tobias Levkovich sees the S&P 500 rising another 12 percent to 1,615 next year.
The S&P 500 does not look expensive based on the forward valuation that many investors are used to seeing, but it’s getting close based on the “new normal”.
We are far from a level of market euphoria. There hasn't been a peak with anywhere near the current level of low market bullishness for nearly two decades now.
A Fed QE3 move will be a short term positive, but it will not solve or even hide all the problems facing the economy.