It’s been a decade since the financial crisis lows, and two decades since the 1999 stock market blow-off bubble top. In today’s chart, we put our party hats on as we look at an interesting stock market ratio: the S&P 500 / NYSE Ratio.
As you can see in the chart below, this ratio is testing the highs that it made in 1999. This comes at a time when the market is still trying to confirm a broader breakout to new highs. While the Nasdaq and S&P 500 are at all-time highs, the Dow Industrials and Russell 2000 are not.
(Click on image to enlarge)
Will this ratio top out here – or will it break out to new highs?The outcome may determine how long the party lasts.
Editor’s Note: The above excerpts* from the original articlehave been edited ([ ]) and abridged (…) for the sake of clarity and brevity. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.
(*The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)
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