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The S&P 500 (^GSPC) closed above 6,000 while the Dow Jones Industrial Average (^DJI) closed Monday above 44,000, both indexes notching new record highs. Bitcoin (BTC-USD) continues to soar alongside equities in the post-election rally, the cryptocurrency peaking above $88,000 today and lifting crypto stocks along with it.

Yahoo Finance markets reporter Josh Schafer follows the new heights this FOMO rally is pushing markets following Donald Trump's reelection, referencing Yardeni Research president Ed Yardeni's comments to Yahoo Finance on how his firm is raising their year-end price target on the S&P 500 to 7,000.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Luke Carberry Mogan.