Ritholtz: There have been 12 bull markets since WWII and of those only half of them made it to a fifth birthday and three made it to a sixth year

Ritholtz: There have been 12 bull markets since WWII and of those only half of them made it to a fifth birthday and three made it to a sixth year. So, what does this market need in order to build additional gains from here? 1) Global economic growth must continue, U.S. growth alone won't be sufficient. 2) Corporate spending/hiring needs to improve. Corporates must deploy their piles of cash 3) Corporate revenue needs to expand. We continue to see earnings gains, but too much of it comes from a combination of cost cutting and productivity gains. 4) Market needs to stay broad, rallies die when they become too narrow. 5) Sentiment needs to be skeptical, not giddy. Be careful once Mom and Pop come in, their timing is awful. Note that I didn't mention valuations. If the five things listed above occur, valuation will take care of itself. (VIEW LINK)


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