I thought it was time to revisit the 1938 comparison, which is doing well, thank you. Here’s a look at it. The bottom panel shows 1938 – 1939. The axis labels refer to the upper panel.
If it continues to unfold now as it did then, we could have another ~17.5% to go on the upside. That will get us a total percentage return on the move equivalent to the 62.2% move in 1938. That move peaked on October 20.
In sum, we’ve enjoyed about 63% of the 1938 move; some might say the easy money has been made. As we approach the 1097 level on the S & P 500 and/or October 20, we’ll need to be alert, but, hey, 1000 is going to sound pretty good.