After a short period of consolidation, the rally is back on track, S&P500 continues to set all time high. The question is the highs beget new highs or the highs beget some reconsideration about where to go next?
.Gabriela Santos, JPMorgan Asset Management chief markets strategist thinks that over time all time highs will beget new all time highs; over the next decade, 7% annual return could be foreseen.
In terms of the short term, markets have been driven by Mega7, which is definitely depending on the incoming earnings, not just the Q4 earnings, but most importantly the guidance for this year
Expectations are pretty high if you look at the multiples and concentration index, can the earnings actually catch up the index? That is a key point.
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by- ANDREW SMITH
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