The recent small daily changes may have obscured the extensive recovery of prices to their peak, October 2007 levels. At the close today, the NASDAQ reached 90.8 percent of its last high. Now less than 300 points separate this index from surpassing its 2811.61 previous 2007 mark. Moreover, at the end of the day, the NASDAQ surpassed its previous recovery rate of 90.2 percent in April.
The diagram reveals the substantial margin of the NASDAQ recovery, compared to the DJIA and the S&P500. These stand at 79.0 percent and 76.3 percent of their October 2007 peaks. Further, these remain below their levels reached when prices peaked on April 23,
Turning to the pattern of closes, the indices continued their recent run of rare, unusual combinations, with the DJIA scoring its fourth successive gain, and the S&P 500 at three straight advances, while the NASDAQ reached two upticks in a row. Only two other days, in 1984 and 1996, share this feature. This minute sample size precludes any meaningful generalization describing possible future repeats.
DJIA .24 percent
NASDAQ .27 percent
S&P500 .37 percent