The tiny island nation of Cyprus was once again the center of attention this week after accepting terms for a controversial bailout package designed to prevent it from becoming the first country to exit the Euro currency bloc. Despite all of this noise across the pond, U.S. equity markets crawled higher, with the S&P 500 finally overtaking its long sought all-time-high early Thursday afternoon to join the Dow Jones Industrial Average in record territory.
Will the market continue to move higher? There are some indications that the answer is “yes,” as the U.S. economy is currently the best house in a bad global neighborhood. The job market is looking better than it has in years, as is housing, spending and a host of other indicators. On the other hand, for market strategists, record highs often signal a pullback.
For investors, reaching an all time high offers a great mile-marker for evaluating your personal asset allocation and strategy. If you have enough money to meet your needs, it might be time to make an adjustment. If you don’t, and your plan remains on track, you’ll get some peace of mind from stopping to check on the status of your nest egg.
Goal Investor 