$SPX notched a new one… so much for any bearishness in the new year. Another VIX close below 9.85 but will the FOURTH attempt at three in a row be the charm for an Upside Warning? I posted this in the Twitter feed earlier but I’ll now leave it here:
Dow up +25% in ’17 … time to look for a pullback?
Since ’50, up >25% YTD 10 times.
Higher next year 8 times with 6 of those times up double digits.
Avg +12.6% vs avg yearly return of +8.5%.
In other words, don’t turn bearish simply because ’17 was up a lot.