This is one tough market to keep down.
As noted last week, we can look at this in two distinct phases: Part 1 was the typical recession bear market — from late October 2007 to early September 2008 (pre-Lehman). That was down from 14,200 to about 11,500, and lasted about ~10 months.
Phase II was the world ending, economic system collapsing, 5,000 point fall from 11,500 to 6,500 over the next 6 months.
I believe — or at least rationalize after the fact — that the rally off of the lows reflects the unwinding of that 5,000 point anticipation of Armageddon.
Recession Bear Market vs Armageddon ?
What Does the Economy Have to Do with the Market? (October 6th, 2009)
The Most Hated Rally in Wall Street History (October 8th, 2009)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.