Market to End Year 20% above Record High
Market to End Year 20% above Record High (Bloomberg)
Following an 85-year old trend, the S&P 500 Index should power 6 percent higher through year’s end, reaching 1,862.79 — which would be a full 20 percent higher than the previous record high. Since 1928, any time the market has recorded a 10 percent gain through October (as it has this year), it has added another 6 percent gain through year’s end 82 percent of the time, according to the folks at S&P and Bloomberg. Adding more fuel to this fire is the fact that the S&P’s return over November and December has been positive every year since 2009, and there’s no reason to think that run will end in 2013. So get out there investors and keep the rally alive.