The S&P 500 has topped at 2430 on 6/1/17

[punisher]

How's this for a reason why the bull can last longer.
Europe is actually getting its act together and growing earnings and GDP. Euro earnings are still ca 30% below 2008 peak whilst US already exceeded it. Largest US companies will get some of that growth, weakening dollar will also improve USD earnings.

I'm not saying US market can't go higher but:
1. if EU and especially EM markets are relatively better value then the money will flow there, not to US markets
2. Europe is getting its act together? Well I'm in EU and I can tell you that within EU only Germans are doing well and CEE. The rest of it is still a mess, just nobody talks about it anymore as it's old news
3. there is so much positive future already priced into US markets including the fact that the world economy is going to get (finally) better, yet it is the slowest recovery...
4. if the US economy is well and about to get even better, then FED will need to increase funds rate, so how do you come up with the "weakening dollar" statement?

As I said before, everything is a positive news or story for the markets. Since the markets climb the wall of worry, find me the reasons to worry please. If we can't find reasons to worry then either everyone is in by now (except algos) or we are about to see some irrational exuberance.

 

[Jakobsberg]

Finding reasons to worry and not buy is normally the easy part. BTW I'm also in EU, Sweden and like Germany doing fine.

Been long EU and EM rather than US most of bull market as always looked cheaper. I don't have bet on it but to me USD looks strong against euro now.

https://www.google.se/url?sa=t&sour...4QmFcbLu8XcgDYuAQ&sig2=jN6RhiYZ2hBKYmsDvQCQKg

 

[propwarrior]

After lasting 92 days before finally being wrong in my last top call. My indicators have signaled once again that the S&P 500 has topped at 2430 or is within 22 points of doing so. I will consider myself wrong if SPX trades over 2452.

SPX objectives are

2357
2252
2172

not long now and you will be stopped out.

 

[S2007S]

Not one single 20% pullback since this market started an uptrend on the feds multi trillion dollar bailout in 2009, I wonder how many would bitch and cry after a 20% correction even though stocks are up hundreds and thousands of percent...but don't worry, many on wallstreet see a significant rally ahead!!! Which sort of baffles me because hasn't there been a rally the last 8 years, I mean how much more can you possibly squeeze out of this bull market, the greed is absolutely unbelievable....this greed is worse than other historical bubbles....
Like the market really cares about this event...this market has zero worries about anything, today is actually another excuse to push stocks into record territories....

Another funny headline from cnbc

Stocks hit record highs while Comey testifies—and some say the rally will rage on




While many investors on Thursday were laser-focused on fired FBI Director James Comey's testimony before the Senate intelligence committee, the U.S. stock market indices rose; the Dow rose to an all-time high, and the S&P 500 was in striking distance of its all-time high.

Some say the market could be primed for a significant rally.

http://www.cnbc.com/2017/06/08/stocks-hit-record-highs-while-comey-testifies.html

 

[punisher]

that's exactly what I see: every news gets turned out into positive, no matter what it is. The latest one I saw was regarding the UK elections: markets are poised for the "relief rally". Relief from what?

Yes, some companies will get more profits (and that may push the valuations even higher) but there is nothing that shows the economy is getting better now or in the future. Employment is at all time lows so everyone that wants a job can/has one, yet you don't see consumers spending, in fact consumer debt is at all time highs.

So yes, some companies will push on valuations, like Uber, Google, Amazon etc but these companies are growing at the expense of others, it's not an organic growth. The only organic growth I see is energy and let's hope that continues so the world stops funding islamic spread by funding middle east countries through buying so much of their crude.

 

[noddyboy]

Not one single 20% pullback since this market started an uptrend on the feds multi trillion dollar bailout in 2009, I wonder how many would bitch and cry after a 20% correction even though stocks are up hundreds and thousands of percent...but don't worry, many on wallstreet see a significant rally ahead!!! Which sort of baffles me because hasn't there been a rally the last 8 years, I mean how much more can you possibly squeeze out of this bull market, the greed is absolutely unbelievable....this greed is worse than other historical bubbles....
Like the market really cares about this event...this market has zero worries about anything, today is actually another excuse to push stocks into record territories....

Another funny headline from cnbc

Stocks hit record highs while Comey testifies—and some say the rally will rage on




While many investors on Thursday were laser-focused on fired FBI Director James Comey's testimony before the Senate intelligence committee, the U.S. stock market indices rose; the Dow rose to an all-time high, and the S&P 500 was in striking distance of its all-time high.

Some say the market could be primed for a significant rally.

http://www.cnbc.com/2017/06/08/stocks-hit-record-highs-while-comey-testifies.html

One day.

 

[S2007S]

Nasdaq up 9 out of 11 sessions
And has logged gains in 24 out of past 30 sessions. An incredible 80% win rate...

Now just imagine if it were the other way around...with an 80% loss rate!!! The fed would have printed another $2 trillion dollars...

Whats more amazing is how NVDA up 67% in one month,, TSLA AMZN, NFLX, GOOG, FB, PCLN, BABA, literally only go one way, UP. Zero risk .....I guess people think they are going to miss out so they keep buying, but once the buying stops which it always does those at the top will be be reminded its not a great thing to chase stocks like everyone seems to be doing as the Nasdaq rallies nonstop....just remember more than 40% of the QQQ is made up of just 5 stocks...talk about a rally that's literally only one sector of stocks....

 

[Jakobsberg]

The latest one I saw was regarding the UK elections: markets are poised for the "reliefrally". Relief from what?

Relief from hard EU exit without trade deal.
Coalition government has to form and needs other party support...... weak, soft exit or no exit at all now has higher probability...... for today at least....

 

[punisher]

Look at the time of my post. The comment I was semi quoting was in reuters on the morning of the elections or the day before. The consensus was PM May would fare much better (than she did) so the harder exit negotiations would result.

Of course NOW they say that softer exit may be on the cards which (guess what!) is also positive. Prior to that, strong PM's cabinet would allow for speedy (yet hard) negotiations.

But they new it would be "relief" rally after the vote, regardless of the outcome. Like if that UK election was holding the markets beforehand.

 

[speedo]

Nasdaq up 9 out of 11 sessions
And has logged gains in 24 out of past 30 sessions. An incredible 80% win rate...

Now just imagine if it were the other way around...with an 80% loss rate!!! The fed would have printed another $2 trillion dollars...

Whats more amazing is how NVDA up 67% in one month,, TSLA AMZN, NFLX, GOOG, FB, PCLN, BABA, literally only go one way, UP. Zero risk .....I guess people think they are going to miss out so they keep buying, but once the buying stops which it always does those at the top will be be reminded its not a great thing to chase stocks like everyone seems to be doing as the Nasdaq rallies nonstop....just remember more than 40% of the QQQ is made up of just 5 stocks...talk about a rally that's literally only one sector of stocks....

Party like it's 1999.