Have you been waiting around to "buy the dip" on this latest stock market rally? If so, you have been waiting a long time. And I'm not just talking about the recent 10-day winning streak.How Strong is the Trend?
The chart below compares each of the equity markets. If a market is shown to be at 100%, then it's currently at a new three year equity high. If not, then the percentage number indicates how close it is to reaching a new equity high.
Also visit the Drawdowns Metric page to view historic equity high watermark charts.
Similar to 2000 and 2007, the economic, valuation and political background does not seem to support the budding euphoria.
But, as Citigroup's CEO said in 2007: “... as long as the music is playing, you’ve got to get up and dance. We’re still dancing.” Remember how well that turned-out?