Commentary This Monday’s rally amounted to the 69th time the index has hit a new record high this year. The rise has been unbelievable, with the S&P closing on the upside nearly 30% of trading days. The S&P is up year to date 24%, Dow Jones up 19%, and NASDAQ up 19% as of the close of the market on Monday. JPMorgan chief macro equity strategist Dubravko Lakos-Bujas in new research released Monday remains bullish on the market and recommends keeping “risk on trades” intact as we enter 2022. Lakos-Bujas acknowledges that some experts are warning that they see a market movement that may be construed as late-cycle dynamics, resulting in an intra-cycle market correction of 10-20%. He and JPMorgan believe the market is still in rally mode… “The conditions for a large sell-off are not in place right now given already low investor positioning, record buybacks, limited systematic amplifiers, …