This week marks the one-year anniversary of the top in 2020 for the S&P500, Dow Jones Industrial Average and Nasdaq100 Indexes.
Everything immediately fell apart after that and we experienced one of the greatest crashes in history.
This leads some people to think that with these indexes now making new all-time highs once again, a crash can happen at any time….
But what most people conveniently like to forget is that everything else had already been rolling over by this point last year. The only indexes left still making new highs were those 3 U.S. Large-caps.
Today, let’s run it back to last year and see what was actually going on, so you can see just how different things are today. All of these charts are from posts and client presentations I gave last February.
First, take a look at Small-caps, Mid-caps and Small-caps all making lower highs by this point last year: [Read more…]