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Crowning a New Champion – Redux

The DJIA has yet to close at a new high, but the S&P 500 Index, Russell 2000 Index, and NASDAQ all set records on Friday. And it’s not just a few large-cap stocks swaying the indexes.

The Value Line Index, which is an equal-weighted index, is also at a new high. Put another way, a record for the Value Line signals the rally is broad-based.

The same themes that have supported stocks for years remain in play – a growing economy, rising profits, and low interest rates. As it stands, investors are more interested in the fundamentals than the political drama in DC.

Oh, one more thing. The new-closing high today for the S&P 500 officially cements the current bull market’s title as the lengthiest bull market on record.

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Absorber of complexity
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Avid mountain climber, financial writer, blogger, chart addict, economics geek

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