FYI: As the stock market continues to soar, it is attracting more money into stocks. That’s what usually happens during meltups. I think the market may be in the early stages of a meltup. I will call it a “meltup” if my 2018 year-end target of 3100 for the S&P 500 is reached within the next 3-6 months rather than the next 12-18 months. To some observers, reaching 3100 by the end of next year may appear to be a meltup since it would mean that the S&P 500 would have risen 51.7% over the three years 2016-2018.
Regards,
Ted
http://blog.yardeni.com/
