Now that we’re in the thick of the earnings season, and with the market more-or-less making lifetime highs every day, I thought it would be helpful to reflect on some of the big indexes.
On the one hand, there’s a lot of new buying power (notably, massive corporate buybacks) that are going to come back on the scene in a few weeks, (as well as improved seasonality), so maybe we’ll be at 6,000 on the S&P 500 in no time, yet on the other hand, some of these indexes look like they’re sputtering at these lofty levels.
The NASDAQ Composite is close to making lifetime highs, but it spent the week stuck at that dashed line, which represents the now-sealed price gap.
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