At the Close, 5/15/17:
Dow: 20,981.94, +85.33 (0.41%)
NASDAQ: 6,149.67, +28.44 (0.46%)
S&P 500: 2,402.32, +11.42 (0.48%)
NYSE Composite: 11,614.23, +67.18 (0.58%)
Welcome to the asylum.
Just for reference, a random look at stocks from a one-year perspective.
On May 16, 2016, here's where the major averages closed.
S&P 500: 2,052.32
NYSE Composite: 10,250.49
OK, so those look like nice gains, right? How much, percentage-wise, through today's close:
S&P 500: 14.58%
NYSE Composite: 11.75%
The obvious question is, how long, with the current bull market more than 8 years long (second longest in market history) can this continue?
Skeptics posit that the entire global financial structure is a massive Ponzi scheme based entirely on fiat money backed by nothing, while realists may refer the old "go with the flow" ideology.
With the Fed continuing to be accommodative via historically low interest rates and the continued buying of financial assets by central banks, there may be no better time to be in the market.
Whoever it was who coined the term, "don't fight the Fed," should be sainted immediately by Pope Francis. This bull market could last another two years or end in two weeks. For now, nearly the entire investment community (approaching 100%) is bullish on stocks, which typically signals a turn of fortune. However, this time truly is different. Never has there been the levels of accommodation and asset purchasing by central banks, who eventually, if current patterns play out, will own the entire market, at inflated prices.
Global hyperinflation? It could happen, but that will take time.
Stay the course. This is the age of easy money.