- Bloomberg.com – The Stock Market Never Goes Down Anymore
S&P is at widest level to its 200-day moving average since ’13
S&P trades at 3.4 times its book value, the most since 2002he New Year’s rally has pushed the S&P 500 Index to its best start since the administration of George W. Bush. Now it’s bumping against speed barriers that marked the upper limits of bull markets for decades. Up eight times in the first nine days of 2018, the S&P 500 has broken away from a trend line, its 200-day moving average, with a velocity unseen since 2013, the best year for equities in a generation. The benchmark now sits more than 11 percent above the level, putting it in the 92nd percentile of momentum, data going back 20 years show.