January 25, 2018

On Thursday, the DOW surged ahead another 0.5% but the S&P 500 was only up 0.1%. Toronto was down 0.5%.

Canadian Tire was up 1.5%. Costco was up 1.9%. Dollarama was up 1.6%. Amazon was up 1.5%.

Toll Brothers was down 3.3%. It’s always been somewhat volatile and I see no reason for concern.

The gains in the U.S. market have certainly been stunning over the past 15 months. The S&P 500 has not had a noticeable pull-back since very early 2016.

Toronto has a much larger decline that bottomed in early 2016 and has not had much of a pull-back since then. It’s easy to forget it now, but Toronto did out-perform the U.S. market in 2016.