Commentary
On the winter solstice, the shortest day of the year, the Dow Jones Industrial Average closed at a record high (37,404), the S&P 500 neared an all-time high, and the Russell 2000 soared nearly 25 percent in under two months, so it’s natural to see spreading euphoria in such a grossly overbought market. Wall Street’s favorite trophy wife, Rosy Scenario, is once again showing her smiling face when it comes to predictions for the coming year. Alas, we always seem to mirror the recent past when projecting the year to come.
