I must have received 5 dozen emails with this chart in it.
Yes, its pretty cool; No, I cannot say what it means going forward.
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Kudos to doug short, the creator of this graph — you definitely touched a nerve.
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Note: Doug writes to say he has posted a continuously updated version of the chart — click here
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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November 21st, 2008 at 11:53 am
The one I would like to see is Japan, of course.
It seems the most relevant.
November 21st, 2008 at 1:15 pm
I think one important thing to note, which may have some significance going forward, is the fact that at the current point in time (around Day 300), all the other bear markets were only about halfway to their ultimate bottom.
November 21st, 2008 at 1:54 pm
Nasdaq post March 2000 would be a nice add
Could industrials in 1929 be more similar to technology in 2000 than to the broader S&P500 at the other times?