Weve titled todays analysis with Yahoo Finances headline to reflect the current bull atmosphere. Yet theres room for moderation. The S&P500 still remains below its October 2007 high, recovering just 94.6 percent of that top now, some 971 days after the market bottomed out in March 2009. The DJIA recovery is only slightly better, at 96.0 percent. Both these averages have lagged, and continue to fall behind the NASDAQ which today reached 111.5 percent of its 2009 low.
Consider the record of 2007, after the S&P500 reached 1480.93, todays close. It happened on April 20, then prices advanced even further topping 1550 in mid-July. Then the shoe dropped, prices plunged 10 percent by the end of August. The market then moved sharply higher, retaking that loss. But the recovery was short lived, before the second shoe dropped just days later. Prices continued to fall. It took 355 trading days to reach bottom, before values finally began the recovery were celebrating today.
Todays close continues the recent flood of unusual patterns: only five previous closes in this century with three advances in a row for the S&P500, two increases for the NASDAQ and a gain for the DJIA after yesterdays loss. The following day had mixed results in the past, with the NASDAQ posting only highs, while the DJIA and the S&P500 falling three times while rising twice.
DJIA .63 percent
NASDAQ .59 percent
S&P500 .56 percent
