The end of quantitative easy, a plunge in the price of oil and several geopolitical and exogenous issues seem to have been shrugged off by this market.
We expect the usual 50% move from the midterm low to the pre-election year high to be below average in the 20-30% range as Fed rates hikes loom large.
Toward the later part of 2015 the economy is prone to slowing as Republicans and Democrats begin the next battle for the White House.
