For anyone who claims that the current bull market is a Federal Reserve induced binge based on manipulated monetary policy, this market still has to exceed the bull market that followed the decline of 1852 before the non-central bank era bull markets could be legitimately ignored. For those willing to look at the history of stock market recoveries, we present the top ten market recoveries from 1835 to 2017.
This market only needs to increase by +8.77% to beat out the bull run of 1857. The next stop for the Dow Jones Industrial Average, to beat the bull market that began in 1857 and ended in 1864 (only 7 years) resulting in a gain of +284%, is 24,844.60.
Keep in mind, that half of the top ten market recoveries include periods when there was no central bank in existence. This should be a testament to the fact that market recoveries of the kind that we’ve experienced would have happened regardless.
We could easily see new highs in the stock market, however, it ain’t because of the Fed. More here.