by Patrick O’Hare
The S&P 500 is up 3.5% year-to-date.* Over the last three months, however, it is up 6.3%. Simply put, three months and a day ago, things didn’t look as good as they appear to look now.
Lately, it seems as if the stock market does nothing but go up. Why that is the case is open for debate, yet one compelling factor seems to be that a lot of people have been expecting the stock market to go down or, at best, sideways. Accordingly, they have been “squeezed into the action” so to speak, fearful of missing out on the next up leg.