In 2020 and 2021, there wasn’t much doubt which way the market was going. It wasn’t just the Mag-7. This post pertains specifically to the equally-weighted S&P 500, which is a much more fair and honest representation of the market than, let’s say, the normal S&P 500.
What jumped out at me was – yes! – another sine wave. It’s actually quite remarkable:
You can see how this index has morphed from a bull market to a meandering, range-bound market. This was eye-opening to me and illustrates, once again, not to get too hung up on all the media screeching about lifetime highs.
