Today is the ninth market day since the S&P500 closed at its highest price on March 7. In that period, prices have gone up and down – but never broaching that pinnacle of 1878.04.
We have taken that high, and on assuming it the highpoint of the current bull market, compared it to the S&P500 performance at the market tops of 2000 and 2007.
Plotting the percentage of these tops for each of the following days reveals a startling similar pattern between the current S&P500 and the two past bull markets.
Of course, this is just comparing today’s situation with those at the end of previous market expansions. Nevertheless, it is astounding that the price changes of the past nine days coincide so closely with ends of the 2000 and 2007 expansions.
DJIA .67 percent
NASDAQ .27 percent
S&P500 .60 percent
