So, the Dow finally crossed 14000. Reason enough to celebrate, although the real achievement will be hitting the all-time high of 14198, set way back in 2007.
But for now, we’ll devote today’s talk to a closer look at the major indices and see if they have room to run.
First up is the Dow, of course, and while I always worry about parabolic runs, you can’t be a bear on future prospects.
The S&P 500 is also strong, and I like this one a bit better, if only because the 2013 move up hasn’t been quite so rapid.
Finally, the Nasdaq is similar to the S&P, and here I also see legs.
So, what’s the bottom line? I think we could see all-time highs on all indices save the Nasdaq. For now, Nasdaq 5132 is still a long way away.