Bull Market Remains Broad Affair

Onward and upward! The stock market continues its assault on new record closing highs like the Allied Armies at the D-Day beaches.

The S&P 500 tried to eclipse its all-time high during four straight days this week, but a series of late-day selling kept the fireworks boxed and the victory parade indoors. We think the market is demonstrating "blowoff" characteristics, and the only issue is whether it will be of mini or major proportions. We would prefer a mini blowoff, as the major blowoffs of 1987 and 1999 to 2000 ended badly. Stay tuned as things are heating up.

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