This week will mark five long years since the S&P 500 reached its all-time peak on October 9, 2007. As you can see in Figure 1, the stock market has been oscillating in a wide range for 15 years. Doubling and then falling by half over and over again. The latest is the fifth leg in the pattern of ups and downs. As the S&P 500 nears the 1565 all-time high, now just 7% away, is the market poised to…

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The Five Long Years