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It's A Great Friday As 12-Year-Old Bull Market Sees Lifetime Highs

ByTim Knight
Published 04/02/2021, 12:27 PM
Updated 07/09/2023, 06:31 AM

Happy Good Friday. However, for the bulls, it is a Great Friday, since yet another day of lifetime highs in this 12-year-old bull market was presented to them on a golden platter. When the jobs report came out — nearly 1 million jobs were added, and an unemployment rate of 6% (in sharp contrast from the 14% of a year ago), the small caps went berserk.

RTY Daily Chart.

Of course, the GLOBEX closed not long after the report, so there wasn’t much time for a reaction. I will note that, for whatever reason, the Nasdaq 100 was a lot more wobbly in its reaction than the small caps.

NASDAQ 100 Daily Chart.

Here we see the change in jobs in recent months. It looks like job additions are starting to gather steam.

Job Change Chart.

And we’re finally getting back to a sorta-kinda-normal level of unemployment.

Employment Change.

Latest comments

What 12 years? The bull market has been going on for 10 thousand years. If we call temporary falls of over 20% bear market then the first half of last year was a bear market. So the bull market using your analogy is only 9 months old.
"Unemployment" is down because "payrolls" are up due to average hourly pay being down. The unwashed masses are running out of money so the low tech jobs are booming while the high tech jobs ate still waiting to be filled.
Notice the play on numbers ie" 12 years" Why? Its to make it look like bozo Obama had something to do with Trumps 18k- 31500. Nasdaq was a measly 5k when Obama left a d the DJIA went sideways 2014-2015. Russell 2000 small caps were virtually nothing 12 years ago..
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