Bull Markets
Breadth & Leadership: Bull Markets Rarely (S)Top On A Dime
Market breadth moved down in tandem with stock market indices, but is not showing any divergences. All advance/decline lines were making new highs just before the downturn, and bull markets do not end with advance/decline data posting new highs.
Stock Market Recovery….Typical In Duration, But Maybe Not In Terms Of Performance
Based on post WWII stock market recoveries, the current recovery could have some more upside (12% possibly).
Third Year Of Bull Market...Now Well Beyond Range Of Typical Bull Market Cycle Peaks
A comparison of the performance of the current stock market recovery to the monthly performance averages of past recoveries (1900 to date).
Third Year Of Bull Market...Now Well Beyond Range Of Typical Bull Market Cycle Peaks
Comparison the performance of the current stock market recovery to the monthly performance averages of past recoveries (1900 to date).
Third Year Of Bull Market...Assessing The Current Cycle From A Historical Perspective
A comparison of the performance of the current stock market recovery to the monthly performance averages of past recoveries (1900 to date).
Third Year Of Bull Market...Assessing The Current Cycle From Several Perspectives
A comparison of the performance of the current stock market recovery to the monthly performance averages of past recoveries (1900 to date and post-WWII era).
View From The North Country
Steve’s assessment of the current bullish and bearish factors. Also, Leuthold’s recent discussion of secular bear markets, sparked some debate among readers.
Getting Later In The Game For The Bull Run
Getting late in the game for the bull run. This is no longer a young bull market, but we continue to believe the market can still move higher from here.
The Certainty Of Uncertainty
Uncertainty in Iraq, terrorist threats, rising inflation, and higher interest rates (and Fed tightening) have taken center stage against a backdrop of impressive corporate earnings momentum and economic recovery.
Following The Script?
Yes September is most frequent month to produce declines, but average loss has been only a paltry 1.3%. Also, Septembers following bear market lows (like this year) actually produced strong performance.
View From The North Country
Stage is set for market’s next advance, breaking out of its two month consolidation.
View From The North Country
“View From The North Country” this month highlights several prior periods of “scary” market environments. In retrospect, all provided excellent buying opportunities.
The Year That Was
Remain bullish on the stock market, but don’t expect Main Street to be a major stock market factor in 2003. Today’s bull market expectations for the DJIA, S&P, and NASDAQ.
What I Worry About
Today’s great bull market has broken most past behavioral guidelines and precedents. It’s a different animal and could terminate as most manias do...with little forewarning and a waterfall decline.
Goldilocks Forever?
The squeeze is on. Lack of corporate pricing power, higher borrowing costs, rising labor costs and the higher dollar will eventually squeeze profit margins. Look out for earnings shortfalls, while analysts catch up to a change in trend.
How This Bull Market Stacks Up
The May issue of this publication featured a month-by-month comparison of all bull markets in this century. Per reader request, we’ve updated the comparison.
Bull Market Dynamics, Inflation Watch & Mutual Fund Mania
An updated graphic and statistical comparison of the current bull market with bull markets of the past. It still appears the current inflation complacency will be upset in coming months. The public is clearly stampeding back into the equity arena, to a large degree via mutual funds.
Comparing the Bulls
All bull markets since 1896 are examined and compared with the current specimen in terms of cumulative month by month gains. In terms of dynamics, this is an exceptional market, but hardly unprecedented. Also, all the long sustained uninterrupted uptrends of the past (like those in the 1950’s) are examined. Is this another one of those? We don’t think so. The current specimen has gone too far too fast.
Inside the Stock Market
The market is again exploding on the upside, about to make a new high. Twenty-three years of on-line market experience provides no operational guidelines for a market like this, even though the amplitude of the move and the volume relative to shares listed is not unprecedented.
Perception for the Professional
March 2026 Issue
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