Stock Market Daily Discussion Thread for October 2nd - 6th

we're inching closer and closer to @Jrich's 2590 SPX target ... today's HOD brings us to within 37 handles.

i'll be honest but i did not think we would be closing in on that target until at least by EOY ... and sure enough here we are not even halfway through what is historically the most volatile trading month of the entire year and we're less than 2% away from that 2590. this market just continues to amaze me.

 

crazy! i believe this will be the longest winning streak for the SPX since 2013? also this could be the 18th consecutive trading day that the SPX has closed within 0.50% of the previous day's close. that would the longest such streak since february of 1969.

edit: actually we don't need to close within 0.50% today ... evidently 17 (which we did yesterday) was the longest since '69.

 

also, today will be the 6th consecutive ATH close for the SPX. last time we saw that? june of 1997.

 

haha, yeah i was thinking the same ... i wouldn't be surprise if that fed day spike low from a few months back of 8.84 gets tested at some point

looks like we could have a new closing ATL on the vix today?

 

confirmed! vix previous ATL on a closing basis was 9.31 from 1993 ... today's close was 9.19

the "intraday" ATL however is down at 8.84 which we set a few months back ... wonder if we break that at some point as well

 

US Stock Market Up 60%+ From Prior All-Time Highs
Oct 5, 2017

The long-term price chart for major US equity indices continues to amaze. Below are charts of the large-cap S&P 500 and Wilshire 5,000 (all US stocks) going back to 1990. At this point, the S&P 500 is up 62% from the all-time high it made back in 2007 prior to the Financial Crisis. The index needs to get just above 3,000 to mark a “double” from its prior highs.

The Wilshire 5,000 is up even more from its prior bull market high made in 2007 at +67%.





While the price chart for the S&P 500 shows huge gains versus prior all-time highs, things aren’t nearly as strong for global equity markets. As shown below, the Bloomberg World Index (which still has a big US weighting) is indeed at new all-time highs, but it’s up just 13% from its 2007 bull market high.



And emerging markets aren’t even at new highs compared to 2007. As shown below, the EEM ETF is still down 18%!

If you had to choose between US equities and international equities, which asset class will perform better over the next ten years?

 

dang, it was an impressive run! this will still go down as the longest winning streak of closing ATHs since 1997

although we're just a touch lower today, it's been really choppy all day it looks like. makes sense after the huge rip higher this week.

a correction through "time" is just as good as price correction. could be seeing some sideways action for a while until the next leg higher i guess (of course absent of any crazy black swan events)