The market is nearing a milestone that could be more important than Dow 27,000, S&P 500 3000

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If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market, Michael Santoli notes.

A more momentous milestone lies just ahead: If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market. Only three prior bull cycles have logged such a 100% gain from the prior bull peak: The great bull markets of the 1950s. the '80s and the '90s.

The table here, prepared upon request by LPL Financial strategist Ryan Detrick, shows the appreciation of the S&P 500 not from the start of a bull market but above the highest level reached in the prior bull phase.The good news for today's stock investors: None one of the previous three instances of a doubling over a past peak stopped there, as the circled returns indicate.

In the '90s, the S&P reached a 100% gain from its 1990 low in November 1996 – mere weeks before Federal Reserve Chairman Alan Greenspan wondered aloud about how to tell when "irrational exuberance" had gripped the financial markets. This helped prompt a modest market correction and gave way to a more-volatile and emotional few years in the market. But the S&P would eventually go on to double again from there before peaking in early 2000.

And the 2007 peak at 1565 was only a touch above the March 2000 top at 1527 seven-and-a-half years earlier. So the doubling of the S&P since March 2000 makes for even less-impressive performance: An annual return of 5.6%, including 2% a year from dividends.

 

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That tax cut trump gave 1% and blew up the deficit really helped companies buy back stock. The stock market doesn’t show a strong economy. Most Americans aren’t even in the stock market. We are headed to another recession

And 8000 in Nas 100

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