Friday, December 26, 2014

Another Day, Another Wall St. Record

The Dow industrials hit a new record high of 18,054 today as the S&P 500 notched up its 52nd record close of the year--an average of one a week.  Today's S&P 500 finished at 2,089, while the NASDAQ reached 4,807--only 193 below 5,000 and near its crazy bubble high of 5,047, hit in 2000. The three indexes total 24,950, their new combined all-time high.

The New Fox Index captures movement into stock market “outer space” first achieved in May 2013, the escape velocity attained by soaring past old-time market theoretical limits of a Dow of 15,000, an S&P 500 of 1,600, and a NASDAQ of 3,500, for a total of 20,100. We keep pushing further into deep space, now touching +4,850 (see inset).

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