FYI: The stock market reached new record highs on Monday, with the Dow and S&P 500 indexes closing above 17,613 and 2038, respectively.
As usual, the occasion was cause for skeptics to raise concerns that we are in the midst of a market bubble.
But the headline numbers obscure a simple point: Record market highs are not unusual during a bull market—at all. As shown by the chart below, courtesy of my colleague Pat Regnier, record highs can occur again and again for years before the market tumbles.
Regards,
Ted
https://time.com/money/3578154/stock-market-record-dow-sp500/?xid=yahoo_money
