Today’s Dow Has Slipped to Fourth Place

Dow slips 1/21/2013



Here is the latest look at the “Sweet Sixteen” Dow recoveries adjusted for inflation/deflation I’ve been illustrating from time to time over the past three years. The charts below compare the current Dow recovery since the March 2009 low with fifteen other major recoveries dating from the origin of this legendary index in 1896. (See the footnote for my selection criteria.)

At this point the Dow is 974 market days beyond the 2009 low. The last time I checked, in mid-September, the index had risen to a solid third place in our Sweet Sixteen competition and was very close to overtaking the Dow rally off the 1921 low. Now, 83 sessions later, the current level is a nominal gain of 108.5% since the 2009 trough, which is a new interim high. However, since we’re comparing such a diverse set of market eras with such a wide patterns of inflation/deflation, the real numbers provide greater comparative insights…More


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