Not exact matches
Taking into consideration the fact that there is just two other circumstances when the debt / GDP NYSE margin had increased by about 30 basis points or more in a period of only three months — that happened when the ration had reached its two major
secular bull market highs — the likelihood is highly probable that the NYSE margin debt / US GDP, is once more at its
peak of all time high of 2.87 %!
It should be given very a high attention that in July 2007, after the debt / US GDP NYSE margin reached its pre-financial crisis high, the S&P 500 just three months later had reached its
bull market record monthly close, and after the debt / US GDP NYSE margin in March of 2000 had reach the dot - com bubble
peak, the S&P 500 after just 5 months in August of 2000 had reached its
secular bull market record monthly close.
Essentially, a
secular bull period comprises several cyclical
bull - bear cycles, where each
bull market achieves a successively higher level of
market valuation at its
peak.
The
secular bull market that ended in 2000 took valuations dramatically above anything seen even at the 1929
peak.
Chart 2 shows that the current ratio is well below the ratio achieved in the last two
peaks (1999 and 2007), but well above the 1982 stock
market low preceding the last
secular bull market.