Folks will be thinking why after a 4 year market run, we are still getting higher prices. Here is my quick take on it (Spoiler: It looks really  bullish)

Equity Risk Premium

The equity risk premium measures the premium required to take on more risk over the risk free rate.

At market highs, the risk premium are usually low because everyone neglects risk and just chase prices. At market lows, risk premium is usually high because everyone is so scared to buy. There is a real premium to earn for the level risk you put in.

This chart shows that current premiums look close to 1975, 1982.

Markets breaking out of new highs

Markets breaking out of new highs above previous psychological levels are very bullish. That, provided that they can stay above for the mean time to reverse it to form support.

Everyone is expecting a triple ...