S&P 500 Index Hits 52-Week High, Only 14% Below ’07 High

The S&P 500 (NYSE:SPY) closed the day up 0.19% and the week up 1.04% to close at another new interim high. The index is 98.5% above the March 9 2009 closing low, which puts it 14.2% below the nominal all-time high of October 2007.

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.

For a bit of international flavor, here’s a chart series that includes an overlay of the S&P 500, the Dow Crash of 1929 and Great Depression, and the so-called L-shaped “recovery” of the Nikkei 225. I update these weekly.

These charts are not intended as a forecast but rather as a way to study the current market in relation to historic market cycles.

Doug Short Ph.d is the author of dshort.com.

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