Very interesting chart from BMO Nesbitt via the Toronto Globe and Mail:
The recovery in stock prices from the lows of the recession now look more normal given the recent correction, BMO Nesbitt Burns says. Previously the strongest rebound of the postwar era, BMO economist Robert Kavcic illustrated how after indexing each rally to the trough, the Dow Jones industrial average is now in the middle of the range after some 70 weeks, trailing the rebounds of 1974 and 1982 and outpacing five others. Mr. Kavcic noted that the chart above shows “that a period of sluggish stock market performance is completely normal after a post-recession sprint, as growth expectations moderate.”
Is the bull aging?
Globe and Mail Wednesday, Jul. 07, 2010 4:41PM EDT