But the upside move has clearly started:
Dow Industrials, up 241.41 points this past week, or 3.10% to 8017.59.
Up for the fourth week in a row.
Longest weekly advancing streak since the five week ended October 12, 2007.
Up 20.98% over the four week period.
Nasdaq Composite, up 76.67 points this week, or 4.96% to 1621.87.
Up for the fourth week in a row.
Longest winning streak since the five week ended August 15, 2008.
Up 25.35% over the past four weeks.
S&P 500, up 26.56 points, or 3.26% to 842.50.
Up four straight weeks.
Longest weekly winning streak since the five-week ended October 12, 2007.
Up 23.28% in four weeks.
This stock market action is further evidence that the Bernanke money printing "recovery" has clearly begun. As I suggested just days before the start of this run in the stock market:
3 month annualized M2 nsa money growth continues at an incredibly rapid rate. Through the week of February 16, the growth was 14.7%. Thus, I fully expect a "recovery" in the economy to occur much sooner than most expect...Bernanke's money printing has now been going on since late September. That's plenty of time to start turning the stock market and economy around--and this is what you are beginning to see.
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