Looking Back, Looking Forward

Yesterday's eye-popping 421-point surge to 17,778.15 for the DOW was the biggest one-day gain in three years, and its back-to-back 200+ gain was the first time in six years (since November 2008).

The U.S. Federal Reserve's commitment Wednesday to take a "patient" approach toward raising interest rates while signaling it was on track to raise rates in 2015 provided both clarity and relief to investors. Oil advanced to hover just above $60 a barrel today, recovering from a precipitous fall and a nearly 5 ½ year low.

This year midterm elections have been historically strong, and every year since 1905 ending in "5" has seen a 32%+ gain. However, as we end 2014 and head into the New Year, we see ourselves in the middle of a more mature secular bull market. Because of that, our expectations are for an increase in volatility and for returns to be more muted. Nonetheless, we see the bull market grinding higher to another good year in 2015.

Susan W. Malloy / CEO, M Capital Wealth Management