Why the Bull Market Isn't nearing its End Yet.

From Business Insider.com.  {Excerpt}

"Warnings that the current bull market is near its end are back in the headlines, but Brian Belski at BMO Capital Markets doesn't think this is the case. Belski points to five reasons the bull market isn't near its end.

1. The length of the bull market — Some point out that few bull markets extend to five years "but cycles of this length are not unprecedented with 3 of the last 10 bull markets reaching this milestone."
2. Valuation and earnings — "Current price multiples are only slightly above historical norms and are below levels witnessed at prior peaks; earnings growth has staged an impressive rebound in recent months, while longer-term projections continue to improve."
3. Corporate guidance — "Negative profit outlooks have spooked some investors, but dividend actions suggest that corporate management remains confident with their longer-term outlooks."
4. Market internals — "While defensive sectors are leading market performance lately, there is still very broad participation across the market judging by the number of stocks still outperforming."
5. Fund flow activity — The recent flow into equity funds has caused some concern but investors pulled so much out during the financial crisis that "when you consider a longer-term fund flow measurement period (three years), current levels are still strongly negative."

Link:  Business Insider.com:  Five Reasons the End of the Bull Market Isn't Near.