S+P Could Hit 3000 by 2020! Bull Market Far from Over, Jon Markman Says

Highs in movable assets as far as the eyes can see?

He's partially right in that the cyclical bull market is not over, but such conclusions can be misleading. The comparison is not with the 1990's but rather 1930's. Devaluation and capital flows drove the market higher into 1937, but the economy still remained weak. After 1937, the economy rolled over, "dipped again" into the depressionary bottom of 1942. A similar pattern show develop in the cycle low of 2016.

Reflecting on financial history and last round of massive government stimulus in the early 1990s, after which the S&P rose five-fold, Markman says the S&P could hit 3000 by the end of the decade. Recalling "Something along those lines could happen again," he says.

Large Cap Stocks Capital Appreciation Index (LCSCAI):


Source: finance.yahoo.com