So much of what transpires in the market depends on the policies of the central bank. Frankly, I don’t think the average investor fully appreciates just how important that policy is to a rising market. At the moment that policy is highly accommodative to growth and future stock gains.
More importantly, we are in the middle of a transition to power that will likely ensure smooth sailing for at least the next six months. There have been few key policy changes when power changes hands and this time should be no different. That means we have up to and through the time the new chairman takes helm at the end of February. Specifically, one can expect continued buying of bonds until early summer. If so, that should boost the market another 5% to 10%.
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