Dow Hits Record High, Signaling Long-Term Bull Market Still Intact
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The Dow Jones Industrial Average recently hit a record high, suggesting the long-term bull market in stocks is still intact according to Bank of America.
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Various US market indices like the Dow are beginning to stage upside breakouts from long-term bases, signaling a secular bull market.
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The Dow often moves sideways for extended periods followed by long-term breakouts to the upside.
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Bank of America expects the long-term upside trend for stocks to continue given the recent breakouts.
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While the Dow hit new highs, the S&P 500 and Nasdaq 100 are still slightly below their January 2022 records.