sp'monthly3'e
Summary
*to close today, a simple 'bare bones' chart covering the last twenty years. Its an arithmetic scale, and it really shows the powerful gains since the Oct'2011 low of sp'1074.
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I wasn't particularly following the market that closely in the early 2000s, but I certainly noticed the post 9/11 decline, from sp'1096 to 944 across just 5 trading days. Back then of course, the market had already been in a very strong multi-month decline from the tech bubble high of spring 2000.
Despite rallying into spring 2002, the market would see another strong wave lower to floor @ sp'768 in Oct'2002... before Greenspan helped 'inspire' the property bubble.
For many out there... September 2001 is becoming a very hazy and faded memory, although perhaps that is a good thing.
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Video - Gordon T long and the 'Dollar Vigilante'
A mixed discussion about all sorts of econ/financial issues... pretty good.
*thanks to poster DC for highlighting this to me.
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Looking ahead
Thursday morning will no doubt be a particularly sombre one in the US market, as the usual 9/11 remembrance is observed across the morning.
In terms of data points, there are the usual weekly jobless claims and the US Treasury budget, but really, those aren't considered that important lately.. are they?
*there is QE-pomo of around $2bn or so.... bears beware.
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Goodnight from London