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Market Update: 9-25-17

THE BULL MARKET APPEARS ALIVE AND WELL

Burt White Chief Investment Officer, LPL Financial | Jeffrey Buchbinder, CFA Market Strategist, LPL Financial

The steady bull market—now the second largest—continues. The Dow just had its third nine-day win streak of 2017, which hasn’t happened within a single year since 1955. Can the rally continue? While longer-term technicals do look very healthy, a closer look suggests that it has been a historically long time since even a modest correction, thus increasing the chances of a rise in volatility soon.

THE SECOND LARGEST BULL MARKET HAS LEGS

On Monday, September 11, the bull market officially became the second largest since World War II (WWII), with a gain of nearly 270% for the S&P 500 Index, besting the 267% gain from June 1949 to August 1956. At this point, only the 417% gain during the 1990s is larger. As explained in our recent Weekly Economic Commentary “Recession Watch Update” it is important to remember that economic expansions don’t die of old age, they die of excesses. From leverage, to confidence, to spending, we simply aren’t seeing the same type of excesses we’ve seen at...

Download the complete PDF with graphs here.

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