Bubble risk may be lurking for the US stock market, but the analysis could be wrong if economic growth accelerates in a meaningful degree due to the Trump administration's planned policy changes. At this point, the case for anticipating a stronger economy is open for debate, but Mr. Market has already cast his ballot.
The S&P 500 rose to another record high yesterday, and by some accounts, the best is yet to come. Stephen Suttmeier, a technical research analyst at Bank of America Merrill Lynch, thinks that the S&P is in a broad upswing that will continue to lift prices for several years. "The secular bull market roadmap says that the best days are ahead," Suttmeier advised on Monday in a note to clients. "We believe that 2017 is the year of acceptance for the secular bull trend that began on the April 2013 upside breakout."…
