Does Low Volatility/Consistency Mean The End Is Near?

Monthly Charts From Nine Different Periods

A common stock market narrative in 2018 goes something like this:

The consistent gains and low market volatility are the hallmark of a blow-off top in stocks.

Is it possible that a consistent, low-volatility market is a common characteristic of early-stage secular bullish moves?  The S&P 500 monthly charts below come from nine different periods.

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How did stocks perform after the looks above?  Were the low-volatility periods followed by horrible bear market losses?  The answer is no. 

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How About 2018?

In fact, 2018 was included in the charts above, and it clearly looks more like the favorable periods relative to the unfavorable, higher-volatility periods.

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Full Details In Video Below

The charts and concepts are described in detail in the video below.