The S&P 500 Hits a New Interim High

 

April 26, 2011

The S&P 500 closed the day up 0.90% to a new interim high. The index is 99.1% above the March 9 2009 closing low, which puts it 13.9% below the nominal all-time high of October 2007. Below are two charts — with and without the 50 and 200-day moving averages.

Click for a larger image

Click for a larger image

For a better sense of how these declines figure into a larger historical context, here's a long-term view of secular bull and bear markets in the S&P Composite since 1871.

For a bit of international flavor, here's a chart series that includes an overlay of the S&P 500, the Dow Crash of 1929 and Great Depression, and the so-called L-shaped "recovery" of the Nikkei 225. I update these weekly.

These charts are not intended as a forecast but rather as a way to study the current market in relation to historic market cycles.

http://dshort.com/articles/current-market-snapshot.html