This Bull Market Is ‘Far From Over’
Bryon Wien believes this Bull market is far from over.
“The Bull market is not over, we are only in the 5th inning,” Mr. Wien recently said in an interview..
Mr. Wien, Vice Chairman of Blackstone Private Wealth Solutions(NYSE:BX), sees the S&P 500 reaching 3,000 by year end, up from 2,865 currently.
He predicts continued robust corporate profits under the business friendly Trump Administration.
He sees healthcare and industrials as being undervalued sectors.
Many others agree with Mr. Wien that the Wall Street Bull may just have some more room to continue raging.
Though born at the depths of a crisis, rarely has a bull market had better support than this one, which just became the longest ever recorded by some definitions. Tame valuations, little competition and earnings growth that looked spectacular, but rarely got above the historical trend these were the forces that sent the S&P 500 up 322% over 3,453 days
The Big Q: Is this Bull run over?
The Big A: A look at the forces that powered the rally that just usurped the dot-com bubble suggests the ingredients for gains have not been used up.
Often when we hit these milestones, it causes psych issues. But the reality is, it is long because we have been a favorable environment, and a lot of the underpinning of that favorable environment is still in place.
US stocks were mixed Wednesday and off a bit Thursday on light volume, it is August.
There was a lot of news that was negative for President Trump Wednesday that introduced some uncertainty into the market.
We are at a point of technical resistance, and need a catalyst to break through it, but it is August.
Tuesday, the S&P 500 reached an all-time intra-day high but ended the session below that level.
The S&P’s bull-market run has now stretched for 3,453 days, the longest streak by commonly used definitions, and comes a day after it hit a record intra-day high.
HeffX-LTN for the US Stock Market is overall Bullish in here.