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Bull market gains – too much too soon
The chart below, courtesy of Jim Stack of Investech Research (via The Big Picture), shows that the duration of the current 22-month bull market is about half the average S&P 500 bull run since 1932.
However, the fact that the Index has gained more than 90% since its March 9 low (versus 56.1% on average after two years of previous bull markets) is of concern and argues that a pullback/correction is overdue. Not to mention the market’s overbullish, overvalued and overbought condition.
Source: Investech Research (hat tip: The Big Picture), January 20, 2011.
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By Prieur du Plessis, on January 21st, 2011 posted in: 
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