S&P crosses 4,000 mark

    This week, the market continued to maintain a high level of enthusiasm. No matter how flustered the valuation level is, the retail investors are still having no fear at all. The bull market in the U.S. seems have no intention to stop. The S&P 500 Index ended up green four times in five weeks. For the first time in history, it surpassed the 4,000-point mark.

    The stock market fell sharply at the start of the pandemic and has rebounded sharply, with the S&P 500 up 80% from its bottom a year ago. That return has outpaced the overall gains in three of the previous 13 bull markets. For some people, the speed of the recovery means that the rally over the past 12 months is just a continuation of the bull market that began in 2009.

    Looking back at the past century, none of the first 13 bull market cycles ended at this point in the cycle—some would argue that March 2020 was the start of a new cycle. Even the shortest bull market lasted two years and in an average of five years. The S&P 500 gaining an average of 10% the following year.

    Blindfolded, the stock market rally can be attributed to massive monetary and fiscal support. But what's rattling the minds of Wall Street's skeptics is that all stimulus could lead to a painful pullback.