S&P 500 hits a record high as earnings season kicks off. AA example. Good luck, you’ll need it. Oil hits 2 month low. Prime Minister May in UK. Turnbull down under. Abenomics revisited. UFC sold peacefully. Thomson Reuters IP & Science sold smartly. Prime Day cometh. Celebrate with a Slurpee or chicken (your call). Financial Review by Sinclair Noe for 07-11-2016 DOW + 80 = 18,226 SPX + 7 = 2137 NAS + 31 = 4988 10 Y + .07 = 1.43% OIL – .65 = 44.76 GOLD – 10.80 = 1355.60     The S&P 500 Index traded at a new intra-day high this morning, topping 2143, and closing at a record high 2137, taking out the old high of 2130 from May of last year. And just because we hit a new high, doesn’t mean we’ve reached the top.  Typically, a breakout results in a bullish rally. The market has broken its multiyear record 17 times, and each of those instances has been followed by prolonged growth. After these 17 multiyear highs, the average return for the S&P 500 has been 8.5% over the next six months and a whopping 15.5% over the next year. Not a guarantee, just an indication of past performance. If you are a bit cautious, wait for confirmation, such as a weekly close above the old high.   So it may come as a surprise that the S&P 500 is also poised to match its longest earnings recession since 1936. At 25 times reported profit, the S&P ...