It hit a new all-time intraday high of 14,286.37, spiking above its previous all-time high of 14,198.10 from October 2007. So far, the index is up nearly 9 percent in 2013, surpassing the 7.3 percent gain for all of 2012.
Could this have been spotted? This is what I wrote at the start of the year on January 3 in the EPJ Daily Alert:
Data coming in from all directions indicates that Bernanke's latest money printing spree is having its impact. Until the Fed changes its monetary policy, it will be very strong U.S. stock markets, housing markets and commodities. This is not the time to be shy about the markets. Consider any weakness to be a buying opportunity for short-term trading and long-term holds.But what about the downtrend in gold? This is what I wrote about gold in the same ALERT:
Gold will be tricky in here. There may be a slight downward trend as those who moved into gold for safety leave gold in the flight AWAY from safety. However, longer term, price inflation will result in a new upward turn in gold. Thus, accumulate gold on any weakness.