This is a piece in the Wall Street Journal, and to their credit they do open with:
- On the face of it, the question is bizarre: a bear market is usually defined as a 20% fall from a peak, but the S&P 500 is just over 1% off its all-time high.
Bolding mine.
Yeah. The urge to pick tops is strong (and vice versa in falling markets)
Anyway, the article goes in with reasoning as to why the peak may be in, falling back on:
- Many investors say they are still buying U.S. stocks because of "TINA": there is no alternative
Here is the link if you can access it.
The Stealthy Bear Stalking the Dow
If stock markets go into decline, historians will date the global bear market from Jan. 26, 2018
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ps. January 26 is Australia's national day. If the market did peak on that day, YW!
