Stocks’ correction coming? Not that again
By Angela Moon
March 18, 2012
Investors are beginning to wonder if this “Energizer Bunny” of a rally can just keep going without taking a break or a fall.
Every Friday for the past couple of months, the question has hung in the back of investors’ minds: Is the stock market’s rally strong enough to continue without a correction?
Even with the S&P 500 above levels unseen since before the financial crisis, the answer remains: Yes.
The broad market index broke through 1,400 — a psychologically important level — for the first time in four years last week. On Friday, the S&P 500 closed at 1,404.17, its highest since May 20, 2008. At Friday’s close, the index was up for nine out of the past 10 weeks.
The rally has taken the Nasdaq up to a 12-year recovery high, while it lifted the Dow <.DJI> comfortably above 13,000 to its highest level since December 2007.