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Wednesday, January 7, 2009

BULL MARKET

Market has moved up more than 20% from lows. But people refuse to call it a bull market.
What gives?
Just like the recession.
Definitions don't count. It is all fuzzy stuff decided by various shadowy figures.

I actually measure a 24% increase in the S&P 500 just looking at closing prices. If you look at absolute highs and lows the move has been 26% from the bottom.

What number would be a new bear?
S&P 500 close below 747.8 would be a new bear market.
Today we closed at 906.65, pretty far above 747.8.
A correction could take us to 841.
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