KBND - Fresh All-Time Highs Across The Board

2024-01-22 22:35:00 ET

Summary

• The wobbly start to January was the long overdue correction that we did not see in November or December, when pullbacks were one-day wonders.
• Not every index set a record last week, but the majors did, like the Nasdaq 100, the S&P 500 and the Dow Jones Industrials.
• The fly in the ointment was the Russell 2000, which is quite a long way from an all-time high – or could this be an opportunity?

The wobbly start to January was the long overdue correction that we did not see in November or December, when pullbacks were one-day wonders. What we saw in January is more “normal”, whatever that nebulous term means in the stock market....

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