Beware the Bull: Equity Boom Has No Basis in Economic Fundamentals

For bull, no death throes … On Feb. 11, the day that the S&P 500 hit its correction low point, the financial press was filled with commentary from Federal Reserve Chairwoman Janet Yellen backing away from the possibility of four rate hikes in 2016 . The stock market has recovered nicely from the paroxysm of selling that occurred earlier this year, and in 10 days this will become the second longest-running bull market in U.S. history. –Dallas News

A little more than a week ago, we asked, “Could the stock market move up hard in these upcoming months?

Well, we seem to have part of our answer, as seen by this mainstream editorial in the Dallas News (see above). Here’s more:

So what bolstered investor psychology and brought the market back from the dead? It was mostly the jawboning coming from the Federal Reserve about interest rates, according…

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