In recent days the FTSE 100 has been hovering around its all-time high of 6,930 which it attained on 31st December 1999. The chart below shows what happened next when the dot com bubble burst (click on all the images in this article to expand them).
Yet it's not just the UK stock market that has been testing multi-year highs. The Japanese stock market (Nikkei 225) has just hit a 15 year high while the US S&P 500 has set yet another all-time high above 2,100. But even in Europe there are similar headlines. The German stock market (the DAX) has also hit an all-time high this month.
While market timing is an almost impossible task, successful investors buy low and sell high. So with stock markets at such highs where are they headed next?
Where are stock markets headed next?
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