10 SEP 2009, Thursday

1. The S&P 500 has rallied to a new interim high 52.7% above the March 9th low. Actually the index first topped the 50% mark on August 21st — approximately 24 weeks after the March low.
2. When was the last time we had such a speedy 50% rally? Above is a chart of the S&P Composite since January 1928, which is as far back as I have daily data for this index. These 24-week wonders are highlighted in red.
3. Not since 1932, near the bottom of the Crash of 1929, have we seen such dramatic gains.
4. How many hours of work does it take the average person (earns $18.65/hr) to purchase the SP500? Below. Interesting perspective on whether or not the market is expensive.