Multiple stock indices and sub-indices are breaching all-time high price levels. There is no confusion over the fact that we have been in a “bull market” since 2009. There is a debate if we are exiting the secular bear market that started with the tech crash and entering a new 10 year plus secular bull market. Are we just having a cyclical bull market in the context of a secular bear market with a few years to go?. The first chart below displays the secular highs and lows since 1871 – quite the data set –eh? The present secular bear market has gone down enough to qualify. The second and third charts are part of the case that we have indeed entered a new multi-year bull phase that can last well beyond 2020. Chris Puplava of PFS Group wrote a compelling piece that can be read here and also under our “Brain Food” tab. Sounds good to me. Jeb B. Terry, Sr. March 9, 2013
Secular Bull and Bear Markets By Doug Short
The following charts make the case that the market will not return to the epic low of 2009 and that the 10 year return on equities has years to go before it peaks.
The Secular Bear Market in Stocks Is Over By Chris Puplava
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