The stock market has been propped up by the feds for some time now (really since QE2).<quoted text>
Dow Jones Industrial Average in March 2009 (less than 2 months after Obama took office):
Dow Jones Industrial Average in October 2012:
It's like artifical ventilation. The patient looks likes he's breathing (good numbers), but he isn't breathing on his own.
S & P has many times peaked just before recessions hit. It's really unreliable as a "leading indicator."
Facts are Obamacare now = massive layoffs. Real unemployment, inflation, and GDP are where you take the patient's pulse. Read those and weep.
&P has often peaked just before a recession.