Courtesy of Chris Kimble.
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What happened 2,084 trading days ago? The S&P 500 peaked in 2007, that’s what.
Here we break down that bear market with the three other big bear markets of the past century. As you can see, this one had the second largest decline (56.78%), but it has also had the best bounce off the lows. Considering the 1929 Crash was down 64.22% right now, the 34.80% gain since the 2007 peak feels pretty good.
Seasonality favors the bulls here, but the looming 161,8% extension of the 2009 lows and 2007 peak continues to hover just a few percent overhead.
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This key level (2,150 zone) is just a couple of percent above current prices.
What it does with the key price zone, could go a long way to see if this recent strength, can continue, into a historically positive seasonal time of year.
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