Wednesday, May 15, 2013

New high for the S&P 500: back up the mountain

We've reached a new all-time high on the S+P 500 (in nominal terms, anyway) with today's close of 1,658.78. 

Four years from the March 2009 bottom, we're up nearly 1,000 points on the SPX. If we go back to the weekly close of 1,576 from the last bull market high (in October 2007), that's a 1,902 point round-trip in the S+P. We've gone down, and back up, the mountain in that time. 

There has been broad participation in this latest move higher, with over 90% of S+P 500 stocks trading above their 200 day moving average. The trend is up and the market continues to climb the (increasingly global) wall of worry. Not to mention, as Ray Dalio learned some time ago, "currency depreciation and money printing are good for stocks".

Related posts

1. Bonds vs. stocks: March 2009 - April 2013.

2. Lessons from Hedge Fund Market Wizards: Ray Dalio.