Courtesy of Doug Short.
The S& P 500 posted a loss of 0.32% for the day, one that had little in the way of economic or market news, to finish the week with a modest gain of 0.28%. The year-to-date advance, however, is an impressive 8.91%.
From an intermediate perspective, the S&P 500 is 102.4% above the March 2009 closing low and 12.5% below the nominal all-time high of October 2007.
Below are two charts of the index, with and without the 50 and 200-day moving averages.
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.
These charts are not intended as a forecast but rather as a way to study the current market in relation to historic market cycles.
