On January 6th, Inside Business published my 2014 stock market forecast that the Standard & Poor’s 500 Index would reach 2,014 in this year. It was 1,800 at the time.
On September 19th, it happened. That’s the good news!
The bad news is that it was an intra-day high on the same day of the Alibaba IPO. When the market closed, it was back below 2,014 and has not risen above it since then.
Be patient — I still think the S&P 500 will end the year at 2,014 or above. Bumpy market conditions like one normally finds during wartime are unsettling and annoying but nothing more. Think long term if you can — increase cash if you cannot.