APJoe DiMaggioStocks have shown incredible resilience during this historic rally.
The S&P 500 is sitting at all-time highs, yet it has been a very long time since we’ve seen a notable sell-off.
Art Cashin, the veteran trader and UBS’s man on the NYSE floor, doesn’t think this can last for too much longer.
“The S&P has been up 56 of the 88 trading sessions so far,” writes Cashin. “That rate of success is not only extremely rare, it is, borderline, unprecedented. 50 years of experience suggests streaks ultimately end – just ask Joe DiMaggio. For now, enjoy the ride; be wary of rumours; stay very nimble and have a great weekend.”