aging bull

As of October 2004 the U.S. economy had entered its third year of another bull market. This is the fourth in twenty years. Typically, up cycles occur once in four-and-a-half years. Already indicators are showing a slowdown-the S7P 500 index, for example, posted only a nine percent gain last year, compared to twenty-six percent in 2003. Issues like the war in Iraq, a budget deficit going toward five hundred billion dollars, and a widening trade gap may keep the bull from charging.