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Bob’s Stock Market Weather Forecast Feb 2017 Newsletter – bobsstocks.com

The S&P 500 closed last year at 2239 and at this writing it stands at 2297. That is an increase of 2.6% in 2017. It all began in 2009 when the S&P 500 was at 666. Still many people are fighting the trend despite the fact that it is their friend. There is both skepticism and fear in the market today. As mentioned in the recent Special Update, there is a large wall of worry for this bull market to climb. One worry, not talked much about, is the economic condition in China. Looking at their data, much of it could be fake news; there could be more issues there soon. I am less worried about all the things we are talking about now then the ones we are not talking about. This is just a hunch on my part for the moment.

Since election day there has been an explosion in the S&P 500 taking the index from 2082 to 2300. The many skeptics in this market who have been in cash missed this more than 10% move! Over the past year many of our readers wondered how the market could go higher with such earnings recession and all the election hype. I opined that maybe, just maybe, the economy was getting stronger. While the  burst in economic activity recent is hardly robust, recent data does suggests acceleration. Most economic indicators and earnings for last quarter are an improvement over the past 8 quarters of declining earnings.

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