By Dan Denning – Southbank Private Briefing (Great Britain) – One index to watch: the Nasdaq Composite. It made an all-time high on Thursday even as the S&P 500 and the Dow Jones Industrial Average fell away. This sets up another potential “narrative” in markets where technology stocks – driven by constant evidence of exponential change around us – assume leadership of the market and race away… as they did between 1998 and 2000.
This kind of two-year tech “echo rally” would roughly fit with what Akhil Patel is expecting in Cycles, Trends and Forecasts. Akhil expects a year or two of rising stock and property prices before the “mid-cycle slowdown”. And then, after a slowdown, the most powerful wealth-creating boom in human history. Interesting times!