If you’ve been following along for the last few weeks, you know that I’ve been giving you a lot of reasons to continue to be bullish about this market – none more so than the incredible amount of stimulus money that’s still primed to hit the market.
Today’s Reality Gap is between what Wall Street Big Shots would tell us about all-time market highs (that they’re bearish) and the reality that the one we just hit is actually bullish. Quite so, actually.
Yesterday, the S&P 500 hit new all-time high during trading, and even after a mild pullback closed at its highest point ever, too.
We’ve finally surpassed the heights from way back in February, just before the coronavirus pandemic sank a very healthy stock market.
Generally speaking, however, new all-time highs are bearish. Stock markets tend to perform worse than otherwise if they’ve just reached a new high. But – the data shows that there’s one exception to this rule. Luckily for us, this exception applies today.
In fact, this exception shows stocks are set to outperform now.
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