While both the DADJ and the S&P500 keep soaring to new all-time highs, the current recovery is still not the best on record. Today, 1,096 days after the 2007 low, the S&P500 stands at 249.7 percent of that bottom. But in the earlier 1996/2000 cycle, the S&P500 recaptured 254.6 percent of its low. Still, with the market turning down after day 1,059 of that expansion, we can look forward to seeing the strongest recovery on record!
Our diagram shows the strength of the current bull market, and that until recently that it lagged previous expansions.
Looking at tomorrow, with today’s close the second gain in a row, the record shows that the chance of a further positive day is slightly greater than even. The proportion of a third successive gain is 56 percent in bull markets; that rate falls to only 36 percent when the market is trending down.
DJIA .50 percent
NASDAQ .04 percent
S&P500 .50 percent
