This post is dedicated to Buddy Larsen's marvelous commentary.
Housing is down (after several years of double digit returns!), retail is weak, oil is bound to go back up, inflation is high-ish, the deficit continues to grow, is it the End of Capitalism As We Know It? Or are we perhaps in a mini-boom, doomed to failure and dissolution as surely as the Great Tech Crash of 2000-2002? Are the Chinese about to destroy the currency, just in time for us to witness the final fall of Social Security?
I have a different view. There's a lot of private money sloshing around (demand = HIGH) and the supply of stock in the US equity markets is diminishing as companies consolidate, buying up rivals, and continue to buy up their own stock at a record pace (supply = LOW).
The stock market is headed higher.
P.S. Remember the cardinal rule of predictions: you can make a prediction or pick a timeframe, but never both at the same time.