Market Rally Keeps On Keeping On

 

We just wrapped up the best week ever. Well, maybe not the best week ever. But certainly the best week of the year.

The Dow Jones Industrial Average climbed 53.92 points, or 0.8%, to close at 7223.98. We’re up 9% for the week, only the fourth time since October that we’ve ended the week higher than we started. The S&P 500 gained 5.81 points, or 0.8%, to 756.55. The Nasdaq gained 5.40 points, or 0.4%, closing at 1431.50. Each were up 11% on the week.

All this comes despite saber rattling from China and the downgrade of GE. It seems like nothing can shake the euphoria that has overtaken the market. The biggest worry we hear from investors these days is “did I miss the bottom?”

Perhaps. But keep in mind that you’ve missed the bottom before, and we got right back down there and lower. In the final week in November, the Dow gained 9.73%. It gave up all those gains and more this year. So relax, friends. Enjoy your weekend.

 

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